S&P 500, Nasdaq Futures Dip Ahead Of FOMC Decision On Interest Rates—General Mills, Nvidia, Cracker Barrel In Focus

Benzinga

U.S. stock futures were swinging on Wednesday following Tuesday's negative moves. Futures of major benchmark indices were mixed. Investors await the Federal Reserve Open Market Committee’s decision, scheduled to be announced by this afternoon.

Transcript

00:00uh we'll start here with the s p 500 um and the broader market here we are flat to slightly red

00:13on the futures here s p futures down 0.06 this morning dow futures doing their best to hold on

00:19to green here up by 0.04 and the nasdaq here down 0.0 so relatively flat a little bit under pressure

00:28as some of these are in the red but the reality is is we are clearly waiting for the fed decision

00:33today and like mentioned earlier perhaps more importantly the reaction uh to the conference

00:39and what the market actually does that's what's really what's going to determine where we go next

00:44uh and all of that let's take a look at some cues from last session sectors with the biggest losses

00:49on tuesday included utilities real estate and information technology contributing to a mostly

00:55lower close for u.s stocks bucking the trend was consumer discretionary and energy stocks

01:01the federal reserve's expected cut on wednesday would be the first reduction since december of 2024

01:07as it arrives with the stock market indexes hovering near all-time highs so i'm going to go back

01:13since eks already did the work for our group i'm going to go ahead and put that fun fact right back

01:18on the screen here so remember we are expecting a cut we are right near all-time highs

01:23positive economic data showed u.s retail sales rose six tenths month over month in august

01:30topping expectations while u.s industrial production rose one tenth beating forecasts for a decline

01:36the nahb wells fargo housing market index came in steady at 32 now in some specific company news

01:45davin busters ticker p-l-a-y papa lima alpha yankee posted weaker than expected results for a second

01:52quarter and ended up getting hammered there um also president trump arrived in britain on tuesday

01:59evening for his second state visit uh apparently this is a rarity presidents normally only get one

02:05and he was greeted with royal pageantry and the announcement of a multi-billion dollar u.s

02:10technology investment in the united kingdom they've been playing it all morning here on cnbc if you're

02:15into the whole uh royals and ceremony and all of that uh big thing here uk really doesn't want to

02:22get left behind on ai and it appears that the united states is going to invest and help uh that

02:29cause we'll see how this all shakes out and see what it means for some of the stocks investors await

02:33the federal reserve open market committee decision that's scheduled to be announced here this afternoon

02:38the 10-year bond yielded 4.01 percent and the two-year bond yielded 3.5 percent now the thing to

02:46watch here in my opinion is going to be this 10-year yield if this 10-year yield dips below 4 percent

02:53after this decision here today i think it's possible that the market actually continues to trade higher

02:58here i suspect that if the bonds cooperate here today the stock market will follow we'll see what we

03:05get i don't i'm not positioned for it so i have no prediction on deck but this is absolutely going

03:10to be one of the things that i'm watching here today

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