Tech stocks set to pull away from pack at US open as investors await big-name earnings and Fed decision

Tech stocks set to pull away from pack at US open as investors await big-name earnings and Fed decision

US tech stocks were set to open higher, while S&P and Dow futures dipped.

Microsoft's strong earnings lifted Nasdaq futures as investors awaited the Fed's policy decision.

The battle over GameStop between Redditors and short sellers continued to rage.

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US tech stocks were set to open higher on Wednesday, as investors cheered Microsoft's earnings and looked towards more big-name reports and a Federal Reserve interest-rate decision.

Futures for the Nasdaq 100 index - which is loaded up with big tech names - rose 0.48% on Wednesday. S&P 500 and Dow Jones futures slipped 0.16% and 0.31% respectively, however, as investors took a breather after recent record highs. The dollar rose and bonds were little changed.

Asian stocks were mixed overnight after a sharp sell-off on Tuesday, which was driven by tighter credit conditions in China and worries about new coronavirus cases. China's CSI 300 edged 0.27% higher overnight, while Japan's Nikkei 225 rose 0.31%. Hong Kong's Hang Seng slipped 0.11%.

European stocks slipped in early trading. Investor focus switched to the near-term problems faced by economies, including worries about the rollout of vaccines. The Europe-wide Stoxx 600 was off by 0.34%.

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