Investors Brace for Economic Data and Fed Decision Amid Tech Earnings
U.S. stock index futures showed little movement as investors anticipate key economic data, a Federal Reserve policy decision, and earnings reports from major tech companies. Notable movements include Starbucks' revenue jump and Visa's slight dip. Focus remains on discussions regarding trade deals and Fed's interest rate decisions impacting the market.
U.S. stock index futures remained relatively stable on Wednesday as investors prepared for significant economic data, a monetary policy decision from the Federal Reserve, and earnings reports from major technology firms.
At 05:53 a.m. ET, the S&P 500 E-minis saw a modest increase of 3 points, or 0.05%, while the Nasdaq 100 E-minis rose by 26.5 points, or 0.11%. Conversely, the Dow E-minis experienced a slight decline of 9 points, or 0.02%. This stability follows a record run that ended on Tuesday due to underwhelming results from Dow components like UnitedHealth and Merck.
Investor focus is now shifting to results from megacap companies to drive the market to new highs. Major reports are expected from Microsoft and Meta Platforms after the market closes, with Amazon and Apple to follow on Thursday. Starbucks' shares surged by 4.6% in premarket trading following a report of better-than-expected revenue in the third quarter.
(With inputs from agencies.)
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