FOMC Meeting Awaited, Wall Street 'Depression' Impact of Earnings Report

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The Wall Street market today (Tuesday) showed a fall following the focus of investors still on the main earnings report and investor vigilance ahead of the announcement of the Federal Reserve (Fed) on the latest interest rates.


In early Monday trading yesterday, the Dow fell 0.12%, while the S&P 500 and Nasdaq Composite rose 0.08% and 0.07% respectively.


JetBlue, Merck, Pfizer, and PayPal are among those due to release earnings reports before the market opens on Tuesday, while AMD, Microsoft and Starbucks will follow afterward.


The release of a report by a giant company in the 'Magnificent 7' group is expected to influence the current market sentiment.


Meanwhile, the Fed is widely expected to keep interest rates on hold at its early morning meeting on Thursday, ahead of expectations to cut interest rates in September.


In extended trading, CrowdStrike shares fell more than 5% following reports that Delta Air Lines has hired a lawyer to seek damages from CrowdStrike and Microsoft after the outage caused thousands of flight cancellations.


Looking among individual stocks, Tesla jumped 5.6% following an increase in recommendations from Morgan Stanley.


Morgan Stanley says Tesla is the most valuable automaker and ranks Elon Musk's company as the top choice in the US auto industry to replace Ford.


Firms ON Semiconductor (11.5%) and McDonald's (3.7%) also posted strong quarterly results.

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