The Federal Reserve is widely expected to cut interest rates on Wednesday for the first time in a decade in hopes of shielding the 11-year economic expansion from growing global uncertainties.
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The central bank is expected to announce its decision on interest rates Wednesday at 2 p.m. ET.
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Economists anticipate the U.S. central bank to lower it by a modest quarter of a percentage point — will end an era of monetary tightening by policymakers, who have voted nine times since 2015 to raise interest rates, as recently as December.
Dow Industrial futures are higher by 0.2 percent, S&P 500 futures also added 0.2 percent and Nasdaq futures rose 0.3 percent.
The latest round of trade negotiations between the U.S. and China seems to have ended with no progress.
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Envoys for both countries met Wednesday for talks aimed at ending a tariff war after President Donald Trump rattled financial markets by accusing Beijing of trying to stall in hopes he will fail to win re-election in 2020.
The meeting ended about 40 minutes ahead of schedule.
Apple iPhone sales dropped to less than half of quarterly revenue for the first time in seven years, still the iPhone maker exceeded quarterly sales and profit targets and gave stronger-than-expected revenue projections for the current quarter.
General Electric swung back to a financial loss in the second quarter, as the restructuring of its ailing power business drained more cash than expected from its otherwise profitable industrial unit. The company said it had lost $600 million in cash flow in relation to the groundings of Boeing’s 737 MAX planes would take a hit of $400 million per quarter in the second half of the year if the groundings continued.
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With more than half the companies in the S&P 500 already out with earnings it’s noteworthy that the results are coming in much better than expected. Three-quarters of the names reporting have beaten forecasts and nearly two-thirds have surpassed revenue estimates.
