S&P 500 futures edge higher as Wall Street looks ahead to ‘Mag 7’ earnings and Fed decision: Live updates

Traders work on the floor of the New York Stock Exchange. NYSE Futures linked to the S&P 500 edged higher early Wednesday as traders awaited quarterly earnings from four of the "Magnificent Seven" stocks, as well as the conclusion of what could be Jerome Powell's final policy meeting as Federal Reserve chair. Both S&P 500 futures and futures tied to the Dow Jones Industrial Average were broadly flat, while Nasdaq 100 futures rose 0.26%. The biggest after-hours movers included Starbucks , which jumped 5% after raising its full-year outlook . Shares of Robinhood fell 9% after its first-quarter results fell short of expectations. Both Seagate Technology and NXP Semiconductors popped about 16% after posting earnings beats and sharing positive revenue guidance. NXP's results lifted analogue chipmakers in the U.S., with Texas Instruments and Analog Devices up 0.5% and 1.8% in premarket, respectively. In Tuesday's regular session, the S&P 500 and Nasdaq Composite both retreated from their records. The broad market index shed 0.49%, while the tech-heavy Nasdaq gave up 0.9%. The blue-chip Dow lost 25.86 points, or 0.05%. Stocks were led lower by losses in the technology sector that came after a The Wall Street Journal reported that OpenAI recently missed its own revenue and user growth targets. Tech giant Oracle , which has a $300 billion, five-year partnership to supply computing power to OpenAI, slid 4%, while chip giants Broadcom and Nvidia fell 4% and more than 1%, respectively. …