Markets are navigating a pivotal stretch as investors weigh AI spending, earnings and a Federal Reserve expected to keep rates on hold. Plus, enterprise AI demand, memory growth and infrastructure investment continue reshaping opportunities across technology, cloud computing and data centers. Later, sector rotation, geopolitical risks and uncertainty around inflation and interest rates keep investors focused on where the next market leaders will emerge.<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

AI spending, Fed policy and market rotation drive the outlook 7/29/26

Morning Call

What made you confident that you could do something that hadn't been done before? I have no fear of failure. Trailblazing women changing the game. One of my favorite pieces of advice, think about what your boss's boss needs. Leadership can look in many, many different forms. It really does come down to just trusting yourself. Life is short and you just gotta think big to accomplish big things. Julia Boorstin hosts CNBC Changemakers and Power Players. New episodes every Tuesday wherever you get your podcasts.

Another chip slip. I'm Morgan Brennan and this is your Morning Call. Morning and an especially good morning to our VIP viewer this morning, Remy. You're supposed to be sleeping, but since you're not, I'm going to get you and the rest of our viewers ready for the day ahead.

So let's start with U.S. stock futures, which are mixed this morning, although basically around the flat line. If you're looking at the S&P and the Dow, S&P is literally flat right now. And Dow is poised to open basically flat as well. Well, Nasdaq poised for a lower open to the tune of about 106 points right now. This was after a mixed day for the major averages on Wall Street yesterday. With the Dow seeing its best day in about a month, the Nasdaq now riding a five-session losing streak.

And the Nasdaq now down more than 8 percent from its most recent 52-week high, hovering near correction territory. The losses are even worse for the NDX, the Nasdaq 100. Big earnings on tap today, though, among them P&G this morning. We got Meta, Microsoft, Qualcomm, After the Bell, quite a few others. We're awaiting the Fed's latest interest rate decision today as well.

AI spending, Fed policy and market rotation drive the outlook 7/29/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

AI spending, Fed policy and market rotation drive the outlook 7/29/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.