Google gives jittery stocks a lift ahead of Fed By Reuters – Investing.com

SINGAPORE (Reuters) – Better-than-expected results at Microsoft (NASDAQ:MSFT) and Google helped soothe a nervous mood in stock markets on Wednesday, while a cut in Russian gas flow dragged on the euro and a Federal Reserve meeting due later in the day kept bonds and the dollar on edge.

Nasdaq 100 futures bounced 1.4% and S&P 500 futures were up 0.8% in Asia after Microsoft forecast steep revenue growth and Google parent Alphabet (NASDAQ:GOOGL) posted strong search engine ad sales.

Alphabet shares rose 5% after hours and Microsoft shares rose 4% to cut through some of the gloom cast over Tuesday by a profit warning at retailer Walmart (NYSE:WMT) and some soft U.S economic data.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6% and Japan’s Nikkei fell 0.3%.

The Federal Reserve is expected to announce a 75 basis point rate hike at 1800 GMT but investors are wary of a surprise in either direction and have preferred safe assets such as dollars.

“The market is…

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