Stocks – U.S. Futures Fall Ahead of Fed Decision
Investing.com – U.S. futures pulled back on Thursday, as investors turned their focus to the Federal Reserve’s latest policy decision later in the session.
The fell 13 points or 0.46% to 2,803.50 as of 6:52 AM ET (11:52 GMT) while were down 81 points, or 0.31%, to 26,101.0. Meanwhile tech heavy decreased 45 points, or 0.63%, to 7,173.0.
While the Fed is not expected to increase , traders will look for any new signs of the central banks plans for hikes in December and beyond. The Fed releases its at 2:00 PM ET (19:00 GMT) and is likely to indicate economic growth will keep it on track for one more rate hike before the end of the year.
The chance of a price increase in December is priced in around , according to Investing.com’s Fed Rate Monitor Tool.
Meanwhile, one of the last waves of earnings season continues with reports from dozens of companies.
Walt Disney Company (NYSE:), Yelp Inc (NYSE:), Dropbox Inc (NASDAQ:), Hertz Global Holdings Inc (NYSE:) and AMC Entertainment Holdings Inc (NYSE:) are just some of the companies reporting.
TripAdvisor Inc (NASDAQ:) was among the top gainers in premarket trading, jumping 6.70% after its earnings came in better than expected, while Cisco Systems (NASDAQ:) rose 0.21%.
Elsewhere, Tesla (NASDAQ:) fell 0.32% after news that it picked Robyn Denholm to succeed Elon Musk as board chair. Musk will remain as the company’s CEO. Digital media player company Roku Inc (NASDAQ:) slumped 11.65% despite posting a higher than expected earnings report, while Qualcomm (NASDAQ:) was down 5.55%
In commodities, fell 0.18% to $1,224.10 a troy ounce while futures increased 0.15% to $61.76 a barrel. The which measures the greenback against a basket of six major currencies, was up 0.33% to 96.12.
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