Stock futures are little changed as investors analyze earnings, await Fed rate decision: Live updates

S&P 500 futures are near flat Tuesday night, after the benchmark snapped a win streak that brought it to record highs, as investors analyzed earnings reports and awaited the Federal Reserve's interest rate decision.

Futures tied to the broad index flickered near flat, as did Nasdaq 100 futures. Dow Jones Industrial Average futures lost 41 points, or 0.1%.

Starbucks shares climbed more than 3% after the bell after the coffee chain posted stronger-than-expected revenue for the third fiscal quarter. On the other hand, Visa sank more than 2% despite quarterly results coming in better than what Wall Street expected.

Tuesday night's action follows a losing day on the Street, marking the first session of the last seven where the S&P 500 did not close at an all-time high. The S&P 500 slid 0.3%, while the Dow and Nasdaq Composite lost about 0.5% and 0.4%, respectively.

The major averages were weighed down Tuesday as the progress of U.S. trade talks with China became shaky. U.S. negotiators ended discussions with Beijing, and the potential extension of a pause on higher China tariffs remained uncertain. A postponement of these higher rates won't be final until President Donald Trump signs off on the plan, U.S. negotiators said.

Investors are awaiting the Federal Reserve's interest rate announcement Wednesday afternoon. Fed funds futures are pricing in a nearly 98% likelihood of the central bank keeping its key rate at a range of 4.25% to 4.5%, according to CME Group's FedWatch tool.

“Despite increased political scrutiny, Fed Chair Jerome Powell continues to signal patience around any interest rate decision,” said Jerry Tempelman, vice president of fixed income research at Mutual of America Capital Management. “Financial markets do not anticipate any change in monetary policy from the Federal Reserve until at least September.”

Following the decision, traders will turn to a press conference with Chair Jerome Powell for insights into the path of monetary policy. This comes as President Donald Trump and allies have tried to pressure Powell to bring the borrowing cost down.

Before that, traders will monitor economic data on private payrolls, gross domestic product and pending home sales due in the morning.

They'll also follow the continued stream of earnings reports. Etsy will provide its quarterly results before the bell on Wednesday, followed by Meta Platforms, Microsoft, Ford and Robinhood after the market closes.

See the stocks moving in extended trading

These are some of the stocks making notable moves in after-hour trading:

• Starbucks — The coffee chain's shares added 3% in extended trading after revenue for the fiscal third quarter came in higher than expected. Starbucks posted revenue of $9.46 billion, while LSEG consensus estimates called for $9.31 billion. Same-store sales fell for the sixth consecutive quarter, however.
• Visa — Shares fell 3%. Visa reaffirmed full-year 2025 guidance of low double-digit net revenue growth. Separately, the financial technology company beat expectations on the top and bottom lines in the fiscal third quarter. Visa posted adjusted earnings $2.98 per share on revenue of $10.17 billion, while analysts polled by LSEG forecast $2.85 per share and $9.84 billion in revenue.
• Mondelez International — The manufacturer of Oreo cookies and Sour Patch Kids candy saw shares tumble nearly 3%. Mondelez reaffirmed its full-year guidance, calling for a 10% decline year over year in earnings per share on constant currency and organic revenue growth of about 5%. Separately, second-quarter results surpassed Wall Street estimates.

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Stock futures are near flat

Stock futures tied to the Dow, S&P 500 and Nasdaq 100 were all little changed shortly after 6 p.m. ET.