On Wednesday, S&P 500 futures remained steady following a positive trading session for the major indexes, with investors anticipating the Federal Reserve’s upcoming policy announcement.
S&P 500 futures showed marginal gains of less than 0.1%, while Dow Jones Industrial Average futures edged down by 24 points, or approximately 0.1%. Nasdaq 100 futures, on the other hand, increased by close to 0.3%.
Prior to market opening, Intel saw a rise of over 3% on reports that the White House is set to provide the semiconductor company with $8.5 billion in CHIPS Act grants. Chipotle Mexican Grill also experienced a 5% surge after unveiling plans for a stock split.
Market participants are eagerly looking forward to the Federal Reserve’s decision on interest rates, widely expected to remain unchanged following the conclusion of its two-day policy meeting. Nevertheless, investors will closely analyze the dot plot for clues on the timing and quantity of potential rate cuts, as many predict that the central bank may initiate rate reductions starting from June.
Source (CNBC)
