It’s being called a “Super Wednesday” on Wall Street — and for good reason. In just a few hours, the Federal Reserve is expected to announce a major interest rate cut, while tech giants Microsoft, Google, and Meta prepare to release their quarterly earnings. This rare overlap of monetary policy decisions and corporate results is set to define the mood of the global markets for the weeks ahead.
The Fed decision arrives at 2:00 PM ET, followed by Jerome Powell’s press conference at 2:30 PM ET. Investors are betting on a 25 basis-point rate cut, with the CME FedWatch Tool showing 73% odds of easing as inflation cools near 2.8% year-over-year and the labor market shows signs of fatigue. The rate move could define the direction of the US stock market heading into November. Traders are watching the 10-year Treasury yield, which slipped to 4.21%, and the US dollar index, which edged lower as expectations for looser monetary policy grow. Stocks have rallied in anticipation, with the S&P 500 up 1.3% this week and the Nasdaq 100 rising 1.8%, but volatility looms large.
At 4:05 PM ET, the spotlight shifts to Microsoft (MSFT), Alphabet (GOOGL), and Meta Platforms (META) — all reporting Q3 2025 earnings. Wall Street expects Microsoft to post $62.3 billion in revenue, driven by strong AI and Azure cloud growth. Alphabet is forecasted to deliver $84.1 billion in sales, powered by a rebound in YouTube ads and Google Cloud margins. Meta is projected to report $41.5 billion in revenue, up 22% year-over-year, supported by ad demand and higher engagement on Reels. Combined, the three giants hold over $5 trillion in market capitalization, meaning their results could sway the entire S&P 500 and Nasdaq Composite in after-hours trading. Analysts say the key numbers to watch are AI-related capital expenditure, ad growth trends, and forward guidance for 2026.
Jerome Powell’s remarks will set the tone for risk sentiment. A dovish message could spark a relief rally, pushing tech and growth stocks higher. But a cautious or hawkish tone might quickly unwind gains. The Fed is balancing slower hiring data, with September’s job additions at 145,000, against steady consumer spending and moderating price pressures. Economists expect Powell to emphasize “data dependence” and flexibility ahead of the December meeting.
Market analysts from Goldman Sachs and Morgan Stanley warn that today’s double-trigger setup — the Fed and Big Tech earnings — could create one of the most volatile sessions of 2025. The CBOE Volatility Index (VIX) already jumped to 23.8, its highest level since June. Derivatives traders are pricing in ±2% post-Fed S&P 500 moves, depending on Powell’s tone and the quality of earnings guidance from tech leaders.
For investors, Super Wednesday isn’t just another trading day — it’s a full-scale stress test for Wall Street sentiment. A rate cut paired with strong tech results could extend the year-end rally. But a hawkish surprise or weak guidance from Silicon Valley could send risk assets tumbling. Either way, tonight’s outcome will likely define how markets move into the final stretch of 2025.
But beyond the cut itself, what matters most is Powell’s message. If he suggests that more rate cuts could follow in the coming months, stocks could surge further. However, if he adopts a cautious tone and signals that this might be a one-time move, markets might quickly lose momentum.
Key points investors are watching:
According to the CME FedWatch Tool, futures markets are pricing in a 73% probability of a rate cut.
A dovish tone could lift tech stocks, Treasury yields, and consumer spending outlook, while a surprise hold or hawkish stance could jolt equities.
This decision comes amid signs of a cooling labor market and moderating inflation, with CPI hovering around 2.8% year-over-year in September 2025.
The outcome of the meeting could reshape investor behavior across multiple sectors. If the Fed turns more dovish, meaning open to further cuts, it could boost risk assets like equities, especially tech and growth stocks. Lower rates generally reduce borrowing costs and make stocks more attractive compared to bonds.
However, if Powell emphasizes inflation concerns or signals that the economy is still strong, markets might interpret it as a “hawkish cut.” That could trigger short-term selling, particularly in sectors that rely heavily on cheap capital.
Data points to note:
Microsoft (MSFT) is expected to post Q1 FY2026 results showing strong growth in cloud computing and AI services. Analysts predict revenue of around $66.8 billion, up roughly 13% year-over-year. The focus will be on Azure’s performance and how AI tools are driving new customer spending.
Google’s parent company Alphabet (GOOGL) will report Q3 2025 earnings. Analysts expect earnings per share of about $1.85 and total revenue close to $82 billion. The key question is whether digital advertising and YouTube growth remain strong amid competition and weaker ad budgets.
Meta Platforms (META) is forecast to post revenue growth near 20% year-over-year, with earnings driven by higher ad spending. But costs tied to AI infrastructure and the metaverse may narrow profit margins.
Wall Street expects:
Microsoft: $62.3 billion in revenue, led by AI and cloud demand.
Alphabet: $84.1 billion in revenue, driven by ad recovery and YouTube growth.
Meta: $41.5 billion in revenue, up 22% year-over-year, boosted by Reels and ad spending.
Investors will also watch for AI spending updates, ad growth guidance, and cost management strategies across all three tech giants.
Investors will also pay close attention to each company’s guidance for the next quarter. Even strong numbers can disappoint if management signals weaker demand ahead.
However, if the Fed sounds cautious or if Big Tech earnings disappoint, investors could pull back quickly, leading to short-term selling pressure. In that case, defensive sectors like healthcare and utilities might see renewed interest.
Key factors to watch this evening:
The combination of Fed policy decisions and Big Tech earnings makes today one of the most volatile trading days of the quarter.
Traders expect sharp moves in Treasury yields, NASDAQ futures, and mega-cap tech stocks.
Analysts warn that the S&P 500’s 10-day volatility index could spike above 24, its highest level since June.
In short — whatever happens today could set the tone for U.S. markets heading into the 2025 holiday season.
But if results fall short and the Fed’s message is unclear, we could see risk-off sentiment — stronger dollar, weaker global equities, and higher volatility.
Investors are advised to stay alert and avoid impulsive trades during high-volatility periods. Diversification remains the safest way to balance potential gains and risks in such uncertain times.
If the stars align — with Powell staying supportive and companies delivering strong guidance — markets could extend their record-breaking run. But if either side disappoints, volatility may return fast. Either way, investors will remember October 29, 2025, as the day when policy and profit collided to decide Wall Street’s next move.
The Fed decision arrives at 2:00 PM ET, followed by Jerome Powell’s press conference at 2:30 PM ET. Investors are betting on a 25 basis-point rate cut, with the CME FedWatch Tool showing 73% odds of easing as inflation cools near 2.8% year-over-year and the labor market shows signs of fatigue. The rate move could define the direction of the US stock market heading into November. Traders are watching the 10-year Treasury yield, which slipped to 4.21%, and the US dollar index, which edged lower as expectations for looser monetary policy grow. Stocks have rallied in anticipation, with the S&P 500 up 1.3% this week and the Nasdaq 100 rising 1.8%, but volatility looms large.
At 4:05 PM ET, the spotlight shifts to Microsoft (MSFT), Alphabet (GOOGL), and Meta Platforms (META) — all reporting Q3 2025 earnings. Wall Street expects Microsoft to post $62.3 billion in revenue, driven by strong AI and Azure cloud growth. Alphabet is forecasted to deliver $84.1 billion in sales, powered by a rebound in YouTube ads and Google Cloud margins. Meta is projected to report $41.5 billion in revenue, up 22% year-over-year, supported by ad demand and higher engagement on Reels. Combined, the three giants hold over $5 trillion in market capitalization, meaning their results could sway the entire S&P 500 and Nasdaq Composite in after-hours trading. Analysts say the key numbers to watch are AI-related capital expenditure, ad growth trends, and forward guidance for 2026.
Jerome Powell’s remarks will set the tone for risk sentiment. A dovish message could spark a relief rally, pushing tech and growth stocks higher. But a cautious or hawkish tone might quickly unwind gains. The Fed is balancing slower hiring data, with September’s job additions at 145,000, against steady consumer spending and moderating price pressures. Economists expect Powell to emphasize “data dependence” and flexibility ahead of the December meeting.
Market analysts from Goldman Sachs and Morgan Stanley warn that today’s double-trigger setup — the Fed and Big Tech earnings — could create one of the most volatile sessions of 2025. The CBOE Volatility Index (VIX) already jumped to 23.8, its highest level since June. Derivatives traders are pricing in ±2% post-Fed S&P 500 moves, depending on Powell’s tone and the quality of earnings guidance from tech leaders.
For investors, Super Wednesday isn’t just another trading day — it’s a full-scale stress test for Wall Street sentiment. A rate cut paired with strong tech results could extend the year-end rally. But a hawkish surprise or weak guidance from Silicon Valley could send risk assets tumbling. Either way, tonight’s outcome will likely define how markets move into the final stretch of 2025.
What are investors expecting from the Fed today?
Most economists believe that Fed Chair Jerome Powell will announce a 0.25% rate cut during the Federal Open Market Committee (FOMC) meeting. This would mark the second consecutive rate cut in 2025, as the central bank shifts focus from fighting inflation to supporting slower growth.But beyond the cut itself, what matters most is Powell’s message. If he suggests that more rate cuts could follow in the coming months, stocks could surge further. However, if he adopts a cautious tone and signals that this might be a one-time move, markets might quickly lose momentum.
Key points investors are watching:
- Policy rate cut: Expected at 25 basis points, taking the Fed funds rate closer to 4.75%.
- Powell’s tone: Whether he hints at more easing or stresses inflation risks.
- Market reaction: Traders will analyze every phrase for clues about future policy.
According to the CME FedWatch Tool, futures markets are pricing in a 73% probability of a rate cut.
A dovish tone could lift tech stocks, Treasury yields, and consumer spending outlook, while a surprise hold or hawkish stance could jolt equities.
This decision comes amid signs of a cooling labor market and moderating inflation, with CPI hovering around 2.8% year-over-year in September 2025.
The outcome of the meeting could reshape investor behavior across multiple sectors. If the Fed turns more dovish, meaning open to further cuts, it could boost risk assets like equities, especially tech and growth stocks. Lower rates generally reduce borrowing costs and make stocks more attractive compared to bonds.
However, if Powell emphasizes inflation concerns or signals that the economy is still strong, markets might interpret it as a “hawkish cut.” That could trigger short-term selling, particularly in sectors that rely heavily on cheap capital.
Data points to note:
- S&P 500 futures rose 0.4% ahead of the announcement.
- NASDAQ 100 gained 0.5% in pre-market trade, led by big tech optimism.
- 10-year Treasury yield fell below 4.1%, reflecting expectations of softer monetary policy.
- The US dollar index (DXY) weakened slightly near 103.5, suggesting a cautious tone among traders.
Why are Microsoft, Google, and Meta earnings so important today?
After the Fed announcement, attention will immediately shift to earnings reports from Microsoft, Google (Alphabet), and Meta Platforms. These three companies represent more than 20% of the S&P 500’s total market value, so their results can swing the entire market.Microsoft (MSFT) is expected to post Q1 FY2026 results showing strong growth in cloud computing and AI services. Analysts predict revenue of around $66.8 billion, up roughly 13% year-over-year. The focus will be on Azure’s performance and how AI tools are driving new customer spending.
Google’s parent company Alphabet (GOOGL) will report Q3 2025 earnings. Analysts expect earnings per share of about $1.85 and total revenue close to $82 billion. The key question is whether digital advertising and YouTube growth remain strong amid competition and weaker ad budgets.
Meta Platforms (META) is forecast to post revenue growth near 20% year-over-year, with earnings driven by higher ad spending. But costs tied to AI infrastructure and the metaverse may narrow profit margins.
Wall Street expects:
Microsoft: $62.3 billion in revenue, led by AI and cloud demand.
Alphabet: $84.1 billion in revenue, driven by ad recovery and YouTube growth.
Meta: $41.5 billion in revenue, up 22% year-over-year, boosted by Reels and ad spending.
Investors will also watch for AI spending updates, ad growth guidance, and cost management strategies across all three tech giants.
Investors will also pay close attention to each company’s guidance for the next quarter. Even strong numbers can disappoint if management signals weaker demand ahead.
What happens if the Fed and Big Tech surprise markets?
A surprise from either the Fed or Big Tech could cause large market swings. If Powell signals a deeper easing cycle and companies like Microsoft or Google beat expectations, markets could rally sharply. Tech-heavy indexes such as the NASDAQ may hit new highs.However, if the Fed sounds cautious or if Big Tech earnings disappoint, investors could pull back quickly, leading to short-term selling pressure. In that case, defensive sectors like healthcare and utilities might see renewed interest.
Key factors to watch this evening:
- Fed statement: Clues about inflation and future rate path.
- Powell’s press conference: Any hint of data-dependence or economic slowdown.
- Tech earnings: Growth in AI, advertising trends, and cloud margins.
- Market reaction: Will investors buy the dip or take profits after the recent rally?
The combination of Fed policy decisions and Big Tech earnings makes today one of the most volatile trading days of the quarter.
Traders expect sharp moves in Treasury yields, NASDAQ futures, and mega-cap tech stocks.
Analysts warn that the S&P 500’s 10-day volatility index could spike above 24, its highest level since June.
In short — whatever happens today could set the tone for U.S. markets heading into the 2025 holiday season.
What does this mean for global and US investors?
The ripple effects will be global. A dovish Fed stance and strong tech earnings could push US equities higher, weaken the dollar, and attract foreign capital. Emerging markets, including India, could benefit from renewed risk appetite.But if results fall short and the Fed’s message is unclear, we could see risk-off sentiment — stronger dollar, weaker global equities, and higher volatility.
Investors are advised to stay alert and avoid impulsive trades during high-volatility periods. Diversification remains the safest way to balance potential gains and risks in such uncertain times.
All eyes on Powell and Big Tech
This Super Wednesday is more than just another trading day — it’s a turning point. The combination of a Fed rate cut and earnings from the biggest names in tech could set the tone for the rest of the year.If the stars align — with Powell staying supportive and companies delivering strong guidance — markets could extend their record-breaking run. But if either side disappoints, volatility may return fast. Either way, investors will remember October 29, 2025, as the day when policy and profit collided to decide Wall Street’s next move.
