A.M. Update

S&P futures are up +0.9% and NASDAQ-100 futures are up +1.5% ahead of the FOMC this morning, driven by a positive reaction to better-than-feared results and guidance from Alphabet (GOOG +3.7%) and Microsoft (MSFT +3.6%). There’s a heavy slate of earnings news for market participants to digest this morning. Also, there’s a lot of focus on the…