Fed holds rates steady as tech giants plan big AI spending despite court striking down Musk pay deal
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The Federal Reserve is expected to keep interest rates steady at its latest policy meeting, with a focus on any commentary around future rate moves.
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U.S. stock futures are mixed ahead of the Fed decision and big tech earnings from Microsoft and Alphabet, who warned AI development costs are set to rise.
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Microsoft and Alphabet said capital spending will increase to boost their AI capabilities, although doubts remain over whether they can sustain the high costs.
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A judge voided Elon Musk's massive $55.8 billion Tesla pay package, arguing it was unfair to shareholders.
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Oil prices dipped after disappointing Chinese manufacturing data, although crude benchmarks are still on track for a monthly gain on Middle East supply worries.