US STOCKS-Dow, Nasdaq futures drop after mixed tech earnings; Fed meeting eyed

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* Futures: Dow down 0.10%, S&P up 0.10%, Nasdaq off 0.11%

April 28 (Reuters) - Futures tracking the Dow and the Nasdaq
fell on Wednesday after a mixed batch of earnings from big
technology companies, while investors kept a close watch on the
U.S. Federal Reserve, which is expected to stick to its promise
of keeping monetary policy loose.
Microsoft Corp MSFT.O met quarterly sales expectations and
beat profit estimates, but its shares fell 2.4% in premarket
trading on skepticism about one-off benefits included in the
results and high hopes after a year-long rally. Google parent Alphabet Inc GOOGL.O jumped 5.2% on
reporting record profit for the second consecutive quarter and a
$50 billion share buyback but warned a surge in usage and ad
sales during the pandemic may slow as people resume in-person
activities.
Biotech Amgen Inc AMGN.O fell 3.6% as it said its
first-quarter sales and profit fell due to a 7% drop in its net
drug prices and a hit from the COVID-19 pandemic. Meanwhile, the U.S. central bank's policy statement, due to
be released at 2 p.m. EDT, is expected to largely follow the
mold established in December, when the Fed said it would not
change monetary policy until there had been "substantial further
progress" in meeting its maximum employment and 2% inflation
goals. The benchmark 10-year Treasury yield US10YT=RR rose to its
highest in more than two weeks. US/
Some of the top U.S. companies, including Boeing Co BA.N ,
Qualcomm Inc QCOM.O , Caterpillar Inc CAT.N and Exxon Mobil
Corp XOM.N , are reporting their first-quarter earnings this
week.
Facebook Inc FB.O is expected to report a rise in
first-quarter revenue due to demand for online advertisements
during the pandemic, while Apple Inc AAPL.O is expected to
post a more than 32% jump in second-quarter revenue, driven by
huge demand for its 5G iPhones.
Shares of Facebook rose 2.0%, while Apple fell 0.2%.
At 6:59 a.m. ET, Dow e-minis 1YMcv1 were down 35 points,
or 0.1%, S&P 500 e-minis EScv1 were up 4.25 points, or 0.1%,
and Nasdaq 100 e-minis NQcv1 were down 14.75 points, or 0.11%.
U.S. President Joe Biden is expected to unveil a sweeping
$1.8 trillion package for families and education in his first
joint speech to Congress, senior White House officials say.