Stock futures are mixed after Wall Street starts the week on a winning note: Live updates

U.S. stock futures turned mixed Tuesday as the Federal Reserve opened its two-day policy meeting, with traders weighing a heavy slate of corporate earnings after Wall Street ended Monday with solid gains across the major averages.

The setup matters. Monday's winning session lifted the major U.S. indexes, but futures failed to extend that momentum into Tuesday's early trade. The split signals that buyers are not pressing positions while the Fed deliberates. Earnings releases are competing with the central bank for attention, which can scramble index-level direction and push traders toward stock-specific moves.

Interpretation: mixed futures after a broad rally typically reflect hesitation rather than conviction. With the policy meeting only on day one, the market has no decision to react to yet, so positioning ahead of the announcement likely drives the tape. That reading is analysis, not a reported fact.

The earnings flow adds a second layer of volatility. A "slew" of reports landing alongside the Fed meeting means individual results could swing sentiment in either direction before the policy outcome arrives. Traders parsing those reports are effectively balancing micro catalysts against a macro event that sets the tone for rate-sensitive assets.