Stock futures are pointing to a modestly higher open, though with investors cautious as a key decision on interest rates awaits from the Federal Reserve.
U.S. stock futures moved higher on Wednesday, ahead of the outcome of a two-day Federal Open Market Committee meeting that is expected to deliver the first 50 basis-point interest rate hike since 2000.
Futures were moving higher alongside oil prices, up on news that the EU has proposed a ban on Russian oil. What’s driving markets? Alongside a half-point interest rate hike, the Fed is expected to announce the start of “quantitative tightening,” when the central bank’s decision is announced at 2 p.m. Eastern Time. Investors will also focus on a news conference with Fed Chairman Jerome Powell at 2:30 p.m. Eastern Time.Clarity from the Fed on size and scope of future rate increases could give beleagured stocks a lift, say some analysts.
Ahead of Friday’s nonfarm payroll data, investors will get the ADP private-sector employment report at 8:15 a.m. Eastern Time, a March update on the trade balance, due at 8:30 a.m., followed by the Institute for Supply Management’s April services index at 10 a.m. Eastern.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Forex Today: Markets gear up for first 50 bps Fed rate hike since 2000Here is what you need to know on Wednesday, May 4: Following Tuesday's choppy action, markets remain calm early Wednesday as investors move to the sid
Read more »
Documentary film '2000 Mules' said to reveal the truth about the 2020 election -SAN DIEGO (KUSI) – Former San Diego resident Dinesh D’Souza has been digging into the details of the 2020 election in a new investigative film, “2000 Mules,” which he says reveals the truth about the election. The filmmaker has said that it examines why some have said that Democrats allegedly leveraged an already-corrupt system to implement widespread illegal voter harvesting...
Read more »
Central Bank Watch: Fed Speeches, Interest Rate Expectations Update; May Fed Meeting PreviewRates markets are fully pricing in a 50-bps rate hike by the Federal Reserve on Wed. We’ll discuss how markets may react to the rate decision starting at 13:45 EDT/17:45 GMT on Wednesday.
Read more »
Gold prices languish at 2-1/2-month low as investors await Fed meetGold prices dropped on Tuesday to their lowest since mid-February, as an elevated dollar and an imminent interest rate hike by the U.S. Federal Reserve dampened bullion's appeal as an inflation hedge.
Read more »
Houston Astros manager Dusty Baker can eclipse 2,000-win mark this week at Minute Maid ParkA hall of fame-worthy career may be cemented this week with just two more Baker-led wins. And lucky for No. 12, a star's likely return could make that happen.
Read more »