US STOCKS-Dow, Nasdaq set to open lower after tech, Boeing results; Fed in focus

* Boeing falls on wider-than-expected quarterly loss
* Microsoft shares down on valuation
* Alphabet jumps on record profit, plans $50 billion buyback
* Futures: Dow down 0.22%, S&P flat, Nasdaq down 0.17%

(Adds comments, updates prices throughout)
By Shreyashi Sanyal and Shivani Kumaresan
April 28 (Reuters) - The Dow and the Nasdaq were set to open
lower on Wednesday after a mixed bag of earnings from big
technology firms and downbeat Boeing results, while investors
hoped that the Federal Reserve would 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 2.7% 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 5.1% 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. Meanwhile, the U.S. central bank's policy statement 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 statement is due
at 2 p.m. EDT. "Investors will get what they are expecting, which is
continued super dovish comments from the Fed," said Christopher
Grisanti, chief equity strategist at MAI Capital Management in
Cleveland.
"If there is any change from that stand, it'll be a big deal
for the markets, but that is unlikely."
The benchmark 10-year Treasury yield US10YT=RR rose to its
highest in more than two weeks. US/
At 8:17 a.m. ET, Dow e-minis 1YMcv1 were down 76 points,
or 0.22%, S&P 500 e-minis EScv1 were up 0.25 points, or 0.01%,
and Nasdaq 100 e-minis NQcv1 were down 24 points, or 0.17%.
The tech-heavy Nasdaq .IXIC on Monday completed a full
recovery from its 11% correction that began in February, largely
supported by a rise in megacap stocks and ebbing inflation
fears.
Boeing Co BA.N fell 1.6% after posting a
wider-than-expected quarterly loss, even as it reported an
improvement in aircraft deliveries as its 737 MAX jets come back
on line. Biotech Amgen Inc AMGN.O fell 4.0% 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. Some of the top U.S. companies, including Qualcomm Inc
QCOM.O , Caterpillar Inc CAT.N and Exxon Mobil Corp XOM.N ,
are reporting their first-quarter earnings this week.
Later in the day, Facebook Inc FB.O is expected to report
a rise in first-quarter revenue, while Apple Inc AAPL.O is
expected to post a more than 32% jump in second-quarter revenue.
Shares of Facebook rose 2.2%, while Apple added 0.1%.
First-quarter overall earnings per share for S&P 500
companies are expected to jump 35% from a year earlier, which
would be the biggest surge since the fourth quarter of 2010,
according to Refinitiv IBES data.
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.