President Donald Trump hinted that he expects to lower fentanyl-linked tariffs on China, a potential major concession ahead of a high-stakes meeting with Chinese President Xi Jinping in South Korea this week.
Investors await the Federal Reserve Open Market Committee decision to cut interest rates by 25 basis points on Wednesday afternoon. The CME Group's FedWatch tool’s projections show markets pricing a 99.9% likelihood of the Federal Reserve cutting the current interest rates later today.
Meanwhile, Microsoft Corp. (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), and Meta Platforms Inc. (NASDAQ:META) are slated to report quarterly earnings after the closing bell today.
Additionally, the 10-year Treasury bond yielded 3.99% and the two-year bond was at 3.50%.
Futures
Change (+/-)
Dow Jones
-0.25%
S&P 500
0.16%
Nasdaq 100
0.39%
Russell 2000
-0.18%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Wednesday. The SPY was up 0.14% at $688.00, while the QQQ advanced 0.41% to $635.54, according to Benzinga Pro data.
Stocks In Focus
Alphabet
Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) rose 0.67% in premarket on Wednesday as analysts expect it to report earnings of $2.32 per share on revenue of $99.64 billion after the closing bell.
GOOG maintained a stronger price trend over the short, medium, and long terms, as per Benzinga’s Edge Stock Rankings, with a robust quality ranking. Additional performance details are available here.
Meta Platforms
Meta Platforms Inc. (NASDAQ:META) was 0.47% higher ahead of its earnings, slated to be released after the closing bell. Analysts expect earnings of ...
