The Federal Reserve will issue its rate policy decision on Wednesday, and traders will be fixated on policymakers’ reluctance to cut.
S&P 500 futures slipped Tuesday night as investors looked ahead to the Federal Reserve's rate policy decision.
Futures linked to the broad market index slipped 0.26%, while Nasdaq 100 futures dropped nearly 0.5%. Dow Jones Industrial Average futures ticked lower by 11 points, or 0.03%.The month ended on a sour note for all three major averages, with the S&P 500 and the Nasdaq posting losses of more than 4% in April. The Dow fell 5% for its worst monthly performance since September 2022.
Traders are now looking toward the Fed's interest rate decision on Wednesday afternoon. With the central bank widely expected to hold interest rates steady, according to, Wall Street will be looking for clues from Fed Chair Powell on what needs to happen before rates can come down. "The concern is that the Fed will definitely be slower to lower interest rates," said CFRA chief investment strategist Sam Stovall."They realize that inflation is remaining fairly sticky. I think they want to just take more of a 'wait and see' approach, and wait for the inflation numbers to start coming back down again."Several notable earnings reports are also scheduled for release Wednesday.
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