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Fed holds rates steady as Microsoft and Meta AI capex moves into focus

7/29/2026

The Federal Reserve held rates steady, and the afternoon's attention landed immediately on Microsoft (MSFT) and Meta Platforms (META).

The question now in focus: what each company will disclose about artificial intelligence capital expenditure.

The Investing Club's Homestretch, an actionable afternoon note published each weekday ahead of the final hour of trading, placed both names at the top of its session watch list.

The rate hold and what it clears A Fed decision to leave rates unchanged removes the central bank as a variable for the session. It does not answer the larger question the market is carrying.