Stock futures mixed as traders await Fed decision, Alphabet and Microsoft earnings
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Stock index futures were mixed on Wednesday as traders awaited the Federal Reserve’s policy decision, while investors looked forward to the earnings from Alphabet and Microsoft.
Dow futures (INDU) -0.29%, S&P 500 futures (SPX) +0.01%, and Nasdaq futures (US100:IND) +0.44%.
The Federal Reserve will announce its monetary policy decision on Wednesday. The central bank is widely expected to leave interest rates unchanged.
Investors will focus on Fed Chair Kevin Warsh’s press conference for signals on the policy outlook and the possibility of future rate hikes. Alphabet and Microsoft will report quarterly results after the market close, putting the spotlight on technology earnings.
On the economic calendar, investors will monitor the Retail Inventories (Advance) report and the Survey of Business Uncertainty.
The 2-year Treasury yield (US2Y) rose 2.1 basis points to 4.77%, the benchmark 10-year Treasury yield (US10Y) rose 2.6 basis points to 5.03%, and the 30-year Treasury yield (US30Y) rose 1.9 basis points to 5.33%.
Among S&P 500 stocks, PPG Industries +7.11%, Principal Financial +2.70%, Avery Dennison +1.95%, NiSource +1.93%, and Dover +1.85%.
Robinhood Markets -7.63%, NXP Semiconductors -6.90%, CoStar Group -6.83%, Universal Health Services -6.33%, and Seagate Technology -5.52%.
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