Equity futures pointed to small gains in early trading, ahead of Wednesday’s Federal Reserve decision on interest rates and Fed Chairman Jerome Powell’s press conference.
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Dow Jones futures were rising by 0.06 percent. The S&P 500 added 0.15 percent and the Nasdaq Composite was up 0.29 percent.
The Federal Open Market Committee wraps-up a two-day meeting and investors widely expect policymakers to set in motion another increase to short-term interest rates.
Investors and economists will also be watching Fed Chairman Jerome Powell, whose comments during a Wednesday afternoon press conference, may offer a better picture of officials’ plans heading into 2019 and potential concerns over the economic impact of new import tariffs.
The economic agenda also includes a report on new home sales.
In Tuesday’s trading, the Dow Jones Industrial Average fell 69.84 points, or 0.26 percent, to 26,492.21 during the latest session. The S&P 500 ticked 3.81 points lower, about 0.1 percent, to 2,915.56. The tech-heavy Nasdaq Composite rose 14.22 points, or 0.18 percent, to 8,007.47.
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| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26492.21 | -69.84 | -0.26% |
| SP500 | S&P 500 | 2915.56 | -3.81 | -0.13% |
| I:COMP | NASDAQ COMPOSITE INDEX | 8007.4713 | +14.22 | +0.18% |
In after-the-bell corporate news, Nike shares fell as much as 4 percent despite a strong fiscal first quarter report that saw the apparel giant top Wall Street’s expectations for both quarterly earnings and revenue. Gross margin increased 60 basis points to 44.2 percent, but fell short of Wall Street’s expectations.
Chinese stocks extended their recovery to hit eight-week highs as trade concerns ease.
The Shanghai composite rose 0.9 percent.
Japan’s Nikkei ended the day up 0.39 percent.
In Europe, London’s FTSE opened lower by 0.1 percent, Germany’s DAX also gained 0.1 percent along with France’s CAC.
FOX Business’ Leia Klingel and Matthew Rocco contributed to this article.
