Microsoft stock dips as Wall Street’s year-end rally pauses, Fed minutes loom

NEW YORK, December 29, 2025, 09:49 ET — Regular session

• Microsoft shares fell about 0.3% early Monday as U.S. stocks opened lower
• Traders are focused on Tuesday’s Fed meeting minutes for clues on 2026 rate cuts
• Investors continue to scrutinize Big Tech AI spending and payback timelines

Microsoft (MSFT.O) shares were down 0.3% at $486.46 in early trading on Monday.

The pullback came as Wall Street’s year-end rally cooled in holiday-thinned conditions, with heavyweight technology stocks giving up some of last week’s gains. Reuters+1

Investors are looking to the Federal Reserve’s meeting minutes on Tuesday — a detailed account of policymakers’ latest debate — for signals on the path of U.S. interest rates into 2026. Reuters

Fidelity International multi-asset portfolio manager Becky Qin said, “We’re not seeing runaway inflation risk as a base case so we’re still thinking the Fed has room to cut.” Reuters

The Fed cut its main funds rate this month to a 3.5%-3.75% range,…