Investors brace for a hawkish hold and tech on tap

Hello, this is Leonie Kidd with today's edition of Morning Squawk.

Investors will assess two major market forces today: the Fed decision and another round of tech earnings.

Inflation is the common denominator, with policymakers citing the AI-driven demand boom as pushing up prices alongside energy.

For now, futures are holding steady, while Fed officials are expected to also hold steady on rates.

It looks set to be a cautious open to trading today as investors stay on the sidelines ahead of a series of big market moments this afternoon.

The Federal Reserve will announce its decision at 2pm ET, with policymakers all but certain to keep rates unchanged.

In a CNBC exclusive, we will also hear the fiscal view from Treasury Secretary Scott Bessent, who joins CNBC's Brian Sullivan to discuss the economy, the midterms and more. Catch that interview at 4pm ET.

It's a positive handover from Asia, with the South Korean index spiking overnight following a solid set of numbers from market heavyweight SK Hynix. Third-quarter operating profit soared past expectations, and the chipmaker returned $25 billion to shareholders.

The main earnings act will come after the bell today, with Alphabet and Microsoft both due to report.

Ahead of that, there have been a slew of big releases from Europe's biggest banks, here's the recap:

Swiss banking giant UBS has logged a near 30% jump in pretax profit for the quarter.

Deutsche Bank has reported its third consecutive quarter of record profits, while assets under management have swelled to $2.2 trillion for the German lender.

Robinhood shares sank in late trading after the retail trading platform missed earnings expectations as the slump in crypto weighed on profit. The stock is down almost 40% from its highs of last October.

Shares in Meta- and Google-backed firm Jio Platforms have spiked over 20% during the first day of trading in India. It marks the country's largest-ever IPO, raising $3.2 billion.

CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning.

Following the second round of voting in Brazil, Senator Flavio Bolsonaro has fled to the U.S.

He was granted a visa to travel to America after failing to comply with the Brazilian Supreme Court's order to hand over his passport.

Meanwhile, the election in Israel appears to have no clear winner after Tuesday's vote. According to exit polls, neither Prime Minister Benjamin Netanyahu nor challenger Gadi Eisenkot appear close to the numbers needed to form a governing coalition.