AT&T, Coca-Cola, Meta Platforms earnings: 3 things to watch

Investing.com -- Stocks were rising amid a flurry of corporate earnings, as investors waited on the Federal Reserve's next decision on interest rates, due out Wednesday.

For the Dow Jones Industrial Average, it is the 12-straight day of gains. Futures traders largely expect the Fed to raise rates another quarter of a percentage point tomorrow, but analysts will be listening to what Chair Jerome Powell says at his press conference for clues on the Fed's next steps. The markets are divided on whether another rate hike is coming this year in the fall or whether this will be the last move.

The idea that the Fed is near the end of its rate hiking has fueled tech stocks higher this year, raising the Nasdaq 34%. Big tech earnings underway will give investors more information about the state of business and consumer spending on tech, and signs of any recovery in digital advertising.

Meta Platforms will report on Wednesday, and analysts are eager to hear more about the social media firm's new Twitter competitor called Threads, which gathered 100 million users in its first week.

On Thursday, investors get the first reading of second quarter gross domestic product, and then on Friday, the latest report on inflation is expected, in the form of the personal consumption expenditures index. Analysts are looking for confirmation that prices are cooling.

Here are three things that could affect markets tomorrow:

1. AT&T earnings

Telecommunications giant AT&T Inc (NYSE:T) is expected to report earnings per share of 60 cents on revenue of $30 billion, along with updates on subscribers.

2. Coca-Cola reports

Beverage giant Coca-Cola Co (NYSE:KO) is expected to report earnings per share of 72 cents on revenue of $11.7B.

3. Meta Platforms

Facebook and Instagram-parent Meta Platforms Inc (NASDAQ:META) is expected to report earnings per share of $2.91 on revenue of $31.1B.