Wall Street is likely to tenaciously hold onto the slender optimism ahead of a slew of earnings from notable companies and the Federal Reserve’s two-day rate-setting meeting that gets underway on Tuesday. Traders appear to be overlooking some negative tech earnings released late Monday as they factor in better performances by their mega-cap counterparts. Microsoft Corp.‘s (NASDAQ:MSFT) earnings report due after the market close could be sought after by traders to read the tea leaves for the results from its mega-cap peers such as Apple, Inc. (NASDAQ:AAPL), Meta Platforms, Inc. (NASDAQ:META) and Amazon, Inc. (NASDAQ:AMZN). Hopes of the Fed confirming that it would begin cutting in September are also buoying sentiment. Futures Performance (+/-) Nasdaq 100 +0.21% S&P 500 +0.21% Dow +0.19% R2K +0.35% In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) moved up 0.23% to $545.99, and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.23% to $464.97, according to Benzinga Pro data. Cues From Last Session: U.S. stocks meandered to a mixed close on Monday as traders turned cautious ahead of the key Main Street and earnings catalysts of the week. The major averages opened higher but gave back their gains and fell into negative territory by early afternoon trading. After staging a recovery in the afternoon, the major indices closed narrowly mixed. Small-caps, which outperformed in recent sessions, witnessed some profit-taking, dragging the Russell 2,000 Index by over 1%. Index Week’s Performance (+/-) Value Nasdaq Composite +0.07% 17,370.20 S&P 500 Index +0.08% 5,463.54 Dow Industrials -0.12% 40,539.93 Russell 2000 -1.09% 2,235.33 Insights From Analysts: Commenting on the FOMC meeting, fund manager Louis Navellier said it is virtually guaranteed that the FOMC statement will signal a key interest rate cut on Sept. 18, premising his expectation on the decline in the two-year Treasury yield from 5.046% on Apr. 30 to 4.385% on ...