June 18, 2024

Live Updates: Stock Futures Show Mild Decline Prior to Fed Policy Meeting

2 min read
Live Updates: Stock Futures Show Mild Decline Prior to Fed Policy Meeting

Title: Stock Futures Show Modest Gains Ahead of Fed Meeting

Shiv Telegram Media – In anticipation of the Federal Reserve’s two-day September policy meeting, stock futures in the United States traded slightly higher on Tuesday. Dow Jones futures gained 22 points, while S&P 500 futures and Nasdaq 100 futures saw a 0.2% rise.

During the previous session, the major stock averages experienced a mostly flat session, with the S&P 500 up 0.07% and the Nasdaq Composite up 0.01%. However, market volatility has been on the rise as concerns about China and US consumer pressure continue to weigh on investors’ sentiment.

Analysts predict that the Federal Reserve is unlikely to raise interest rates this week, with a 99% probability of no hike. Furthermore, traders are placing only a 29% chance of a rate increase in November.

Amidst this market uncertainty, the energy sector led gains, while the consumer discretionary sector fell roughly 1%. This divergence reflects investors’ cautious approach to the shifting economic climate.

Today, market participants are also keeping an eye on key economic data scheduled for release. The preliminary building permits for August and housing starts will provide insights into the housing market’s health and overall economic recovery.

Additionally, all eyes will be on AutoZone as they prepare to announce their earnings before the bell. The automotive aftermarket retailer’s performance will likely influence market sentiment, given its significance within the auto industry.

Overall, the current stock market climate is characterized by cautious optimism as investors await the Federal Reserve’s policy decisions. With concerns over China’s economic growth and the impact of consumer pressure in the United States, volatility is expected to persist in the near term.

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