Nasdaq futures indicated a positive opening on Wednesday, coinciding with the Federal Reserve’s announcement regarding the decision on interest rates, alongside earnings reports from various prominent tech firms within the Magnificent Seven. Futures for the Nasdaq 100, S&P 500, and Dow Jones Industrial Average indicated increases of 0.9%, 0.3%, and less than 0.1%, respectively. Yesterday, the major equities indexes concluded the trading session with mixed results. The benchmark S&P 500 achieved both intraday and closing records, while the tech-heavy Nasdaq experienced a rise of 0.9%. In contrast, the blue-chip Dow Jones Industrial Average saw a decline of over 400 points, primarily due to a significant drop in shares of UnitedHealth.
The Federal Reserve is anticipated to maintain interest rates within the range of 3.5% to 3.75% when it reveals its decision at 2 pm. Fed Chair Jerome Powell is expected to engage with reporters following the meeting, where he will probably respond to inquiries regarding President Donald Trump’s heightened public pressure for rate reductions. Investors are preparing for the upcoming quarterly results from major technology firms Microsoft, Meta Platforms, and Tesla following the market close. Microsoft and Tesla shares experienced a modest increase in premarket trading, whereas Meta stock saw a slight decline. Shares of Apple were little changed as the company prepares to issue its earnings report after the close on Thursday. Shares of Nvidia advanced about 2% on reports that Beijing had approved sales of its H200 chips to China. Amazon shares ticked higher after the company announced it was laying off 16,000 workers just three months after it eliminated about 14,000 positions.
In the aftermath of earnings announcements, Texas Instruments surged by 8.5%, ASML increased by 6.5%, and AT&T rose by 5%, while GE Vernova experienced a modest gain of 1.5%. Starbucks was among other notable companies set to report results this morning. UnitedHealth and Humana shares rebounded modestly before the bell after plummeting a respective 20% and 21% yesterday following a proposal from the Centers for Medicare and Medicaid Services that would raise payments to insurers less than expected in 2027. Gold futures, often regarded as a safe haven, reached a new peak of over $5,300 an ounce early Wednesday, with a recent increase of 3.3% bringing the price to $5,250. Silver futures increased by 5.7%, reaching a price of $112 per ounce.
The U.S. dollar index, which monitors the value of the greenback relative to a selection of global currencies, remained relatively unchanged at 96.25 following a decline to over four-year lows the previous day. Bitcoin exhibited minimal fluctuation, remaining approximately at $89,300. The yield on the 10-year Treasury, which influences interest rates across various consumer loans such as mortgages, remained relatively stable from Tuesday’s closing figure of 4.25%. West Texas Intermediate crude futures, the U.S. benchmark, experienced a decline, settling at approximately $62.30 per barrel.