07:31 AM EDT, 07/31/2025 (MT Newswires) -- US equity markets were tracking in the green before the opening bell Thursday following the Federal Reserve's decision to keep its policy rate unchanged, while investors await a key inflation report and more tech earnings.

The S&P 500 rose 0.9%, the Dow Jones Industrial Average added 0.3% and the Nasdaq increased 1.3% in premarket activity. The S&P 500 and the Dow closed Wednesday's trading session lower, while the Nasdaq finished higher.

The Federal Open Market Committee left interest rates unchanged at 4.25% to 4.50% on Wednesday, in line with Wall Street's expectations. Governors Christopher Waller and Michelle Bowman dissented as they preferred a quarter-percentage-point cut. Governor Adriana Kugler, who recently favored holding rates steady "for some time," was absent, the FOMC said.

"Higher tariffs have begun to show through more clearly to prices of some goods, but their overall effects on economic activity and inflation remain to be seen," Fed Chair Jerome Powell said at a post-decision press conference. "For the time being, we are well positioned to learn more about the likely course of the economy and the evolving balance of risks before adjusting our policy stance."

In a social media post early Thursday, US President Donald Trump criticized the Fed's decision and called Powell a "total loser."

"He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair," Trump wrote about Powell.

The two-year Treasury yield slipped 0.5 basis points to 3.93% in premarket action, while the 10-year rate gained 4 basis points to 4.37%.

Trump on Wednesday signed a proclamation imposing 50% tariffs on imports of semi-finished copper products and copper-intensive derivative products, effective Friday. He also signed an executive order suspending duty-free de minimis treatment for low-value shipments.

In separate social media posts, Trump also announced a trade deal with South Korea, which will pay tariffs of 15%, and said the US will impose duties of 25% on India, effective Aug. 1. Trump said on Truth Social that his reciprocal tariff deadline of Friday for trading partners that haven't signed a trade deal with the US "will not be extended."

Traders will be turning their attention to last month's personal income and outlays report, which is scheduled for an 8:30 am ET release. The report includes the personal consumption expenditure core price index, the Fed's preferred inflation metric. Thursday's economic calendar also has the Challenger Job Cut report for July and the weekly jobless claims bulletin.

iPhone maker Apple ( AAPL ) and e-commerce giant Amazon.com ( AMZN ) are scheduled to report their latest financial results after the markets close. Mastercard ( MA ) , AbbVie ( ABBV ) , S&P Global ( SPGI ) , Comcast ( CMCSA ) , Anheuser-Busch Inbev ( BUD ) , Roblox ( RBLX ) , Cigna ( CI ) , CVS Health ( CVS ) , Air Products and Chemicals ( APD ) and Kellanova ( K ) release earnings before the bell, among others.

Shares of Microsoft ( MSFT ) advanced 8.4% after the technology conglomerate reported stronger-than-expected fiscal fourth-quarter results. Meta Platforms ( META ) climbed 12% as the Facebook parent issued an upbeat third-quarter revenue outlook on the back of better-than-expected second-quarter results. Nvidia ( NVDA ) added 1.7% after closing Wednesday up 2.1%.

West Texas Intermediate crude oil retreated 0.8% to $69.44 a barrel before the open. Commercial crude stockpiles in the US unexpectedly increased last week, government data showed Wednesday.

Gold edged up 0.2% to $3,359 per troy ounce, while bitcoin inclined 1.6% to $118,475.