U.S. stock futures traded near the flatline early Wednesday as traders awaited the Federal Reserve’s interest rate decision, due today, with a majority expecting a 25-basis-point cut. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.11%, 0.12%, and 0.07%, respectively, at 4:49 a.m. EST on September 17.
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During Tuesday’s regular trading session, the three major indexes ended in negative territory. The S&P 500 briefly hit a new intraday high before pulling back. The S&P 500 and the Nasdaq Composite fell 0.13% and 0.07%, respectively, while the Dow Jones declined 0.27%.
Traders widely expect the Federal Reserve to cut interest rates to help the slowing U.S. economy, even though inflation is still above its 2% goal. Traders will also pay close attention as officials share their outlook for future rates in the quarterly “dot plot” report.
In the meantime, economic reports on housing starts and building permits are scheduled for release today.
Turning to earnings, General Mills (GIS) and Cracker Barrel (CBRL) are set to report their results.
Meanwhile, the U.S. 10-year Treasury yield was down, floating near 4.02%. WTI crude oil futures were trending lower, hovering near $64.18 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price decreased to nearly $3,701 per ounce on Wednesday.
Elsewhere, European stocks opened mostly higher on September 17 as traders worldwide awaited the U.S. Federal Reserve’s interest rate decision. In the meantime, U.S. President Trump and First Lady Melania are scheduled to spend the day at Windsor Castle with King Charles and Queen Camilla, before meeting with Prime Minister Keir Starmer on Thursday.
Asia-Pacific Markets Traded Mixed Today
Asia-Pacific markets traded mixed on Wednesday as global markets anticipate the U.S. interest rate decision.
Hong Kong’s Hang Seng index gained 1.78%. In China, the Shanghai Composite added 0.37%, while the Shenzhen Component rose 0.90%. Meanwhile, Japan’s Nikkei fell 0.25%, and the Topix slipped 0.71%.
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