Investors are focused on two major events for U.S. markets this week: the Federal Reserve’s policy decision scheduled for July 29 and earnings reports from Amazon, Meta, Microsoft, Apple, and Qualcomm, according to Coinpedia.

The Federal Reserve is expected to keep interest rates unchanged in a range of 3.5% to 3.75%. However, the report noted that rising oil prices could strengthen expectations for a later rate hike if they add pressure to inflation. Because interest-rate expectations affect borrowing costs and equity valuations, investors will be watching not only the rate decision itself but also the Fed’s signals on inflation risks and future policy.

Corporate earnings are also set to play a central role in market attention. Amazon, Meta, Microsoft, Apple, and Qualcomm are among the major companies due to report results, with investors closely watching their spending on artificial intelligence and the profitability of those investments. The focus on AI spending reflects a broader market question for large technology companies: whether heavy capital investment can translate into durable revenue growth and margins.

Strong earnings may not be enough on their own to lift stocks if expectations are already elevated. The report cited Intel’s recent results as an example, noting that even earnings beats can lead to selloffs when investor expectations are too high.

The week’s market focus therefore centers on monetary policy signals from the Federal Reserve and whether major technology companies can show that AI-related spending is supporting sustainable financial performance.