Equity futures were little changed on Tuesday night, with investors preparing for the Federal Reserve’s latest policy decisions at the close of Wednesday’s meeting.
Futures tracking the Dow Jones Industrial Average fell 10 points. S&P 500 futures and Nasdaq 100 futures were flat.
In normal trading, major stock averages ended lower after September job openings showed a resilient labor market. The Dow is down about 79 points, or 0.2%. The S&P 500 dropped him 0.41% and the Nasdaq Composite dropped him 0.89%.
Investors await a key policy decision by the Federal Reserve, which is widely expected to announce a three-quarter percentage point increase in interest rates in a continued effort to fight high inflation. But market participants are looking for signals that the central bank is ready to slow down its rate hike plans in December.
“Seeking a little guidance… 75” [basis points] Expected, it’s going to hit, but what’s the guidance going forward? Told.
On Tuesday, the ISM manufacturing index, which shows the share of companies reporting expansion in October, was 0.9 points lower than in September. The JOLTS report showed his 1.9 job openings for each available worker.
“These are not great numbers for the Fed. The job market is still tight,” Green said. “So I think they’re still somewhere between rocks and hard places. They’re going to have to hike. Nobody likes it. Everyone wants them to stop. But It’s like a car crash in slow motion. Stop hiking they just can’t.”
In addition to the Federal Reserve’s policy decisions, investors are also looking at mortgage application data and the ADP’s employment report.
Healthcare companies such as CVS Health, Humana and GlaxoSmithKline continue their earnings season Wednesday before Bell. Paramount and Yum! There are also many brands.
