Stocks rise with Big Tech earnings, Fed decision in focus: Stock market news today July 24, 2023

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Stocks rose during midday trading on Monday, as investors bided their time waiting for a crucial week of earnings to kick off and for a key policy decision from the Federal Reserve.

The Dow Jones Industrial Average (^DJI) led the way higher, moving over 0.5%, or more than 190 points. The S&P 500 (^GSPC) added around 0.4%, while the tech-heavy Nasdaq Composite (^IXIC) added 0.2%.

Earnings season moves into high gear this week, with over 150 companies on the S&P 500 on the docket. Eyes are on Big Techs results from Microsoft (MSFT), Alphabet (GOOGL), and Meta (META), given the Nasdaq was dragged down by second quarter reports from Tesla (TSLA) and Netflix (NFLX) last week.

Investors are also bracing for the Fed's interest rate decision at the end of its policymaker meeting on Wednesday, widely expected to deliver a hike. The question on minds is whether the central bank stays hawkish and signals more raises are likely, and what that means for the odds of the US economy avoiding a recession.

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