Fed meeting and major tech earnings converge as 2026 opens with volatile markets

As 2026 began, global markets endured another turbulent week, with U.S. equities slipping overall despite a marginal daily gain for the S&P 500 and a small advance in the Nasdaq Composite. Investors now look to Wednesday's Federal Reserve meeting, where rates are widely expected to remain in the 3.5%–3.75% range, and to a heavy slate of corporate earnings from firms such as Microsoft, Meta, Tesla, Apple, and large industrial names, as AI-related capital spending and massive debt issuance reshape credit markets.