Stock market futures traded flat early today as investors maintained a cautious stance ahead of several significant events on Wall Street. The S&P 500 and Nasdaq Composite both recently posted new record highs, with the S&P 500 marking its 15th record close so far this year. Despite these milestones, gains were modest—yesterday, the S&P 500 finished just above the flatline, the Dow slipped slightly by 0.1%, and the Nasdaq managed a 0.3% increase.

As of this morning, futures linked to the S&P 500 were up 0.28%, while Nasdaq 100 futures rose by 0.47%. Dow Jones Industrial Average futures showed a modest gain of 0.1%. These numbers reflect a market waiting for fresh catalysts, as investors remain focused on key factors set to influence the next direction of trading.

The Federal Reserve’s policy decision looms large over the market today. Investors are closely watching for any signals about interest rate changes or the outlook for inflation and economic growth. The Fed’s commentary is expected to have significant impact, as speculation continues over when policymakers might begin to adjust rates.

Adding to the anticipation, several Big Tech companies are scheduled to report their quarterly earnings this week. Given the outsized influence of major technology stocks on index performance, their results—and any changes to their outlooks—will be carefully analyzed for clues about broader market momentum.

In summary, while recent record highs in the S&P 500 and Nasdaq highlight continued market strength, the path forward remains uncertain. Traders are positioned cautiously as they await updates from the Federal Reserve and earnings results from tech giants, both of which could set the tone for the remainder of the week.