Investors are bracing for a heavy slate of economic releases, including the ADP employment report and ISM services index, on Wednesday.
This follows the momentum that drove the Dow Jones roughly 1% higher to fresh record peaks during Tuesday’s rotation into blue-chip names.
Meanwhile, the 10-year Treasury bond yielded 4.15%, and the two-year bond was at 3.46%. The CME Group's FedWatch tool‘s projections show markets pricing an 83.9% likelihood of the Federal Reserve leaving the current interest rates unchanged in January.
Futures
Change (+/-)
Dow Jones
0.04%
S&P 500
-0.10%
Nasdaq 100
-0.26%
Russell 2000
0.02%
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, were lower in premarket on Wednesday. The SPY was down 0.11% at $691.08, while the QQQ advanced 0.29% to $621.83, according to Benzinga Pro data.
Stocks In Focus
AAR
AAR Corp. (NYSE:AIR) was 5.07% higher after posting better-than-expected results for the second quarter and issuing a strong sales forecast for the current quarter. The company said it sees third-quarter sales between $813.840 million-$827.404 million, versus market estimates of $793.438 million.
Benzinga’s Edge Stock Rankings shows that AIR maintains a stronger price trend over the short, medium, and long term, with a moderate quality ranking. Additional information is available here.
Penguin Solutions
Penguin Solutions Inc. (NASDAQ:PENG) shares rose 4.41% in premarket on Wednesday after reporting better-than-expected first-quarter financial results.
It maintains a stronger price ...
