US Stock Market: Wall Street eyes Fed decision, AI earnings as traders navigate rising uncertainty

US equities ended lower last week after sharp declines in Alphabet and Tesla following earnings, as investors questioned returns on massive AI spending. All eyes are now on the Federal Reserve's policy meeting on Wednesday, where rates are widely expected to stay unchanged though markets price in a possible quarter-point hike, with Brent crude briefly touching $100 a barrel amid Middle East tensions. The busiest phase of Q2 earnings season is also underway, with Microsoft, Amazon, Meta, Apple, Visa and Chevron set to report, while S&P 500 earnings are tracking a 26.5% year-on-year growth so far.