FOMC Announcement, META/MSFT Earnings
PUBLISHED | 3 min read
U.S. stock futures are slightly higher ahead of the Wall Street open as Traders await the FOMC announcement along with parsing through more earnings.
The moves follow a losing day on the Street, marking the first session of the last seven in which the S&P 500 did not close at an all-time high.
Fed policymakers are largely expected to hold rates steady for a fifth consecutive meeting despite sustained pressure from President Donald Trump on Powell to lower borrowing costs. Fed Chair Powell comments will be in the crosshairs for any indication of future cuts.
Along with the Fed announcement, investors will focus on earnings fallout today along with data, including the ADP jobs report and the first read on 2Q GDP.
Snapshot (as of 7 AM ET)
- Oil (/CL) – Oil prices are up 0.3% near $69.40 a barrel, off of yesterday’s 5-week highs, as investors awaited developments on U.S. President Donald Trump’s tighter deadline for Russia to end the war in Ukraine and his tariff threats to countries that trade its oil.
- Gold (/GC) – Gold prices are flat near $3,380, supported by lower Treasury yields and a slight pullback in the dollar, while investors await the U.S. Federal Reserve’s policy statement later in the day for guidance on future monetary policy path.
- Bitcoin (/BTC) – The Crypto Future is up 0.4% near $118.8K in the premarket.
- VIX – The CBOE Volatility Index rose 6.3% on Tuesday and settled at 15.98 as stocks were lower.
- U.S. Dollar (/DX) – The dollar is over 0.1% higher to 98.8.
Biggest Premarket Movers (Mark % Change as of 7 AM ET)
- Teradyne (TER): +7.11%
- Humana (HUM): +6.47%
- Starbucks (SBUX): +4.82%
- Seagate (STX): -5.10%
- Old Dominion Freight (ODFL): -4.39%
- Trane Technologies (TT): -3.61%
Economic Data
- 7:00AM ET: MBA Mortgage Applications
- 8:15AM ET: ADP Employment Report
- 8:30AM ET: GDP - 2Q 1st Read
- 10:00AM ET: Pending Home Sales
- 10:30AM ET: Oil Inventories
- 2:00PM ET: FOMC Announcement
- 2:30PM ET: Fed Chair Presser
Notable Earnings
- Premarket: AER, MO, AEP, ADP, BLCO, CHKP, ETR, ETSY, FTV, GRMN, GEHC, GNRC, HOG, HSY, HUM, KHC, SMG, TEVA, TW, TT, VRT, VFC, WING
- Postmarket: AEM, ALB, ALGN, ALL, ARM, BHC, CHRW, CP, CVNA, CTSH, EBAY, EQIX, FFIV, F, KGC, LRCX, META, MGM, MSFT, PSA, QCOM, SFM, WDC
- Premarket Tomorrow: ABBV, AGCO, APD, BUD, APTV, ATI, BAX, BDX, BIIB, BWA, BMY, BLDR, CCJ, GOOS, CI, CMCSA, CVS, EXC, GIL, IP, K, KKR, MAS, MA, NCLH, PCG, RBLX, SNY, SNDR, SHAK, SHEL, SIRI, SO, TEX, VMC, WRD, WTW, XRX, XPO, XYL
- Postmarket Tomorrow: AMZN, AAPL, AJG, BOOT, CLX, NET, COIN, DXC, FSLR, FND, FBIN, GILD, GT, HUBG, ILMN, IR, MTZ, KLAC, MSTR, RDDT, PARAA, RIOT, RKT, ROKU, SY
Upgrades/Downgrades
- DZ Bank upgrades Spotify (SPOT) to Hold from Sell
- Cantor Fitzgerald upgrades Seagate (STX) to Overweight from Neutral
- UBS upgrades Peloton (PTON) to Buy from Neutral
- Barclays downgrades Novo Nordisk (NVO) to Equal Weight from Overweight
- BofA downgrades UPS (UPS) to Neutral from Outperform
- Wedbush downgrades Booking (BKNG) to Neutral from Outperform
