Uncertainty over a Federal Reserve meeting that will last two days to decide whether or not to raise interest rates along with the imminent release of earnings for both Apple Inc. (NASDAQ:AAPL) and Twitter Inc (NYSE:TWTR) saw the S&P decline for a second consecutive day.

Twitter TWTR

Too much uncertainty rules the trading day

Apple is the most traded stock in the world and investors, quite simply, don’t know what to expect when Apple releases its earnings for the Q3 in a matter of minutes.

At the same time, following a the release of today’s housing report and additional sets of strong economic data, the Fed may be tempted to raise interest rates that wasn’t necessarily expected ahead of the report.

“The real thing I’m going to be looking for is, is there a tip of the hat to a potential rate increase in September?,” said Brad McMillan, chief investment officer at Commonwealth Financial Network explaining today’s uncertainty.

Back to Apple

The Thomson Reuter’s consensus earnings for Apple is expected to come in at $1.39 compared to $1.85 year-over-year. Apple did little to help investors with its guidance since its last earnings call but expects gross margins of roughly 38%.

Analysts are calling for revenue of $42.1 billion compared to nearly $50 billion last year. The April Q2 included suggestions by Apple that revenue would be between $41 billion and $43 billion, so the consensus is essentially splitting the difference.

Apple’s announcement that iPhone sales, which drive the company, were down for the first time since the release of its iconic handset sent Apple stock tumbling and most analysts aren’t expecting much from its new model when unveiled in September as a major upgrade is not expected.

There comes a point where you just have to throw your hands up in the air when it comes to Twitter and what to expect. Yes, people use it including The Donald, but it can’t seem to drive engagement or signup actually users of the microblogging platform.

Analysts aren’t expecting much but Mr. Trump could have changed that. We’ll know in a matter of minutes. Regardless, of the reports less uncertainly will accompany tomorrow’s trading.