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Alphabet Slides After a So-So Quarter - 5 Things You Must Know Before the Market Opens

1. -- U.S. stock futures turned higher on Tuesday, July 25, following a solid but not outstanding earnings report from Google parent Alphabet Inc. ( GOOGL) and as the Federal Reserve's monetary policy-setting body, the Federal Open Market Committee, begins a two-day meeting.

An announcement on interest rates from the FOMC is expected at 2 p.m. on Wednesday, July 26. Economists don't expect the Fed to make any changes to interest rates at the meeting. In June, the FOMC raised short-term interest rates for the third time since December.

European shares were rising Tuesday while Asian stocks finished the session mixed.

The economic calendar in the U.S. on Tuesday includes the FHFA House Price Index for May at 9 a.m. ET...