This is the Current Situation of the US Stock Market Heading to the FOMC!

<p>&nbsp;All three US stock indexes managed to close the New York session trading in positive territory, where investors were also presented with several publications of corporate earnings reports.</p><p><br /></p><p>The Dow Jones ended trading slightly up 0.08% to 35,438.08, while the S&amp;P 500 added 0.28% to 4,567.45 and the Nasdaq rose 0.73% to 15,561.42.</p><p><br /></p><p>This was supported by positive market sentiment following news from China, better earnings reports and strong US consumer confidence data.</p><p><br /></p><p>However, in today's Asian session, it can be seen that US stock market futures are a little gloomy amid investors' vigilance towards the Federal Reserve's (Fed) interest rate decision.</p><p><br /></p><p>The Fed is widely expected to raise interest rates by 25 basis points, and a follow-up statement from Chairman Jerome Powell will take center stage.</p><p><br /></p><p><br /></p><p>Meanwhile, Microsoft reported better-than-expected fiscal fourth-quarter results driven by growth in its cloud computing business.</p><p><br /></p><p>Microsoft announced earnings per share of $2.69 on revenue of $56.2 billion, better than expectations of $2.55 on revenue of $55.44 billion.</p><p><br /></p><p>Meanwhile, Alphabet (GOOGLE) reported better second-quarter results with earnings per share of $1.44 on revenue of $74.6 billion versus $1.34 on revenue of $72.82 billion.</p><p><br /></p><p>Microsoft shares rose 1.7% and Alphabet gained 0.56% at the close in the New York session. But in extended trading, Microsoft dropped 3.76% while Alphabet continued to surge around 6.09%.</p><p><br /></p><p>Investors will next watch the release of earnings reports from Meta and Coca-Cola on Wednesday.</p>