The last week of July will confront markets with a triple event: the FOMC meeting on July 28-29, with only a 3% probability of a rate cut, Big Tech earnings from Microsoft, Meta, Apple, and Amazon, and Robinhood’s results on July 29. In Q1 2026, Robinhood’s crypto revenue fell 47% year-over-year to $134 million, but its Ethereum Layer 2 blockchain, Robinhood Chain, has already processed over 100 million transactions on its public testnet. The tone of Jerome Powell’s remarks after the Fed meeting could influence risk assets, with bitcoin and ethereum historically sensitive to shifts in rate expectations. The combined results of these four mega-cap tech companies represent a significant portion of S&P 500 market capitalization and should set the tone for equity and digital asset markets heading into August.
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