Fed Decision Looms Heavy As Megacap Earnings from Microsoft, Alphabet, and Meta Await

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Happy Wednesday. This is TheStreet’s Stock Market Today for Oct. 29, 2025. You can follow the latest updates on the market here in our daily live blog.

The U.S. markets are now open. Continuing earlier’s gains in futures trading, the Nasdaq (+0.60%), Dow (+0.4%), and S&P 500 (+0.35%) are all in the green. The Russell 2000 (+0.03%) lagged a little further behind.

Firms are reacting to yesterday and this morning’s news with some pretty dramatic moves. Before the market opens, let’s take a look:

At the top of the market this morning, Teradyne (+16%) beat its Q3 earnings and delivered strong Q4 guidance, thanks to AI demand. Health care company Centene (+10%) is also bucking the omens in the insurance business with a beat of its own, which came with a brighter outlook for the year. Fortive (+9.3%) also made the cut.

Here’s the short list of other names:

At the very bottom of the market, Fiserv (-36%) is seeing as dramatic move after its earnings as many can remember from a company of its size. The company blew up its leadership and board after a big Q3 miss, plus a downward revision to its full-year guidance.

By contrast, the rest of the reactions today don’t actually look so bad (even though they are!) There’s Avantor (-16%), Garmin (-12%), and Generac Holdings (-11.7%), among others. All of them are facing earnings reactions.

Here’s the short list of sinkers:

Good morning. Wall Street’s big day has arrived. With the Nasdaq Composite, S&P 500, and Dow notching record closes, U.S. equities will now face a confluence of factors that could bolster or derail the historic rally.

Today, more than 300 firms will report earnings. This afternoon, the Fed will announce what it will do with interest rates. And somewhere in between there, you have murmurs about a China trade deal, worries about SNAP and WIC, and a government shutdown on the verge of record length.

Here’s a shortlist of some of the big developments coming down the pipe today:

This morning, the earnings are big, with reports from Caterpillar, Boeing, and Verizon leading the way. There’s also payrolls giant ADP, health care goliath CVS Health, and pharmaceutical company GSK, among others.

Here’s a shortlist of A.M. earnings:

This afternoon, they’ll be even more giant as megacaps like Microsoft, Alphabet, and Meta are set to release their earnings. We’ll have more on that later.

Chief among economic events today is the conclusion of the Fed’s two-day Federal Open Market Committee (FOMC) meeting, which investors expect will see the central bank pare rates by a quarter-point. A product of that decision will also include some glimpses of what might happen at the final meeting of the year in December.

In addition, the Mortgage Bankers Association has already shown a decline in the 30Y mortgage in the recent week; we’ll also get to see Pending Home Sales for September, plus the latest stocks of various energy products.

Here’s what is flagged as important for today, per TradingEconomics:

This story was originally reported by TheStreet on Oct 29, 2025, where it first appeared in the Markets section. Add TheStreet as a Preferred Source by clicking here.