Global Markets Steady Before Fed and Big Tech Earnings

Global markets are calming down ahead of the Federal Reserve's rate meeting and major tech earnings announcements. European stocks hit record highs, partially recovering from Monday's downturn. Investors await insights on President Trump's economic policies. Key currency and bond markets remain in holding patterns, anticipating central bank decisions.

Global markets appeared steadier on Wednesday following a turbulent start to the week, as investors braced for the Federal Reserve's first rate meeting of the year and awaited earnings reports from tech giants Microsoft, Meta, and Tesla. The Fed is expected to end its series of rate cuts, offering insights into President Trump's initial days back in office.

European stocks achieved record highs thanks to impressive results from Dutch chipmaker ASML, boosting the tech sector. Parts of Asia gained, and Wall Street futures pointed up, with investors looking past Monday's global market rout caused by a new Chinese AI model, DeepSeek, impacting Nvidia's stock.

Analysts expect the Fed, led by Jerome Powell, to maintain a message of possible future rate reductions. The return of calm in stock markets is seen as positive, with key market movements hinging on upcoming central bank decisions and possible tariff changes from the Trump administration.

(With inputs from agencies.)