It was a huge quarter for big tech.  A blowout quarter from the iPhone maker shattered expectations, on revenues of $81.4B. Every one of Apple's major product lines grew over 12% on an annual basis.  Shares of Google parent Alphabet are higher this morning after advertising revenue soared 69% Y/Y to $50.4B.  Microsoft similarly crushed expectations, while the tech giant finished the year with $60B in annual earnings (and $165B in sales) for the first time ever.

Boeing reported its first quarterly profit in almost two years on Wednesday, boosted by a surge in deliveries of commercial jetliners as airlines began recovering from a pandemic slump and sales rose in the company’s other divisions. The plane manufacturer snapped six consecutive quarters of losses, swinging to a profit of $567 million for the second quarter.

All eyes turn to the Fed as the market awaits the latest policy decision.  While no action is expected from the FOMC today, there may be a possible mention of tapering the central bank's bond program. That could shake up some investing sentiment as the winding down of purchases is seen as the first step toward interest rate hikes (especially with inflation heating up). The Fed is currently purchasing $120B in securities a month, including $80B in Treasury bonds and $40B in mortgage-backed securities.