U.S. stock futures gained early Wednesday as investors awaited the Federal Reserve’s interest rate decision later in the day. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.31%, 0.22%, and 0.29%, respectively, at 4:28 a.m. EST, June 18.
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However, geopolitical concerns remain in focus. Tensions in the Middle East continued to weigh on sentiment. On Tuesday, President Donald Trump posted on Truth Social, warning Iran’s leader that “our patience is wearing thin” and demanding “UNCONDITIONAL SURRENDER!”
Amid these rising tensions, all major indexes closed lower on Tuesday. The S&P 500 declined 0.84%, the Nasdaq Composite lost 0.91%, and the Dow Jones shed 0.70%.
Stocks also slipped as investors turned cautious ahead of the Federal Reserve’s rate decision, expected Wednesday afternoon. While the central bank is expected to keep rates unchanged, investors will closely watch Fed Chair Jerome Powell’s remarks after the meeting.
In addition to the Fed meeting, Wednesday’s economic calendar includes May housing starts and preliminary building permits, offering insight into the U.S. housing market. Weekly jobless claims are also set to be released.
On the earnings front, cannabis producer Aurora Cannabis (ACB) and Smith & Wesson Brands (SWBI) are expected to report results today.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.41%. Simultaneously, WTI crude oil futures are trending lower, hovering near $74.57 per barrel as of the last check. At the same time, the Gold Spot U.S. Dollar Price declined to nearly $3,379 per ounce on Wednesday.
Elsewhere, European stock markets opened mixed on Wednesday as investors focused on the upcoming Fed decision and fresh UK inflation data.
Notably, U.S. stock markets will be closed on Thursday in observance of the Juneteenth holiday.
Asia-Pacific Markets Traded Mixed Today
Asia-Pacific markets were mixed on Wednesday, as growing tensions between Israel and Iran kept investors on edge.
Hong Kong’s Hang Seng Index was down 1.18%. However, Japan’s Nikkei and Topix indices gained 0.9% and 0.77%, respectively. At the same time, China’s Shanghai Composite and Shenzhen Component indices closed higher by 0.04% and 0.24%, respectively.
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