Wednesday’s publication of the Federal Reserve's January meeting minutes will be closely watched by investors seeking further clarity on the perspectives of policymakers. However, the week’s primary macroeconomic focus shifts to Friday, when the Personal Consumption Expenditures index is scheduled for release.
The 10-year Treasury bond yielded 4.07%, and the two-year bond was at 3.45%. The CME Group's FedWatch tool‘s projections show markets pricing a 92.1% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
Index
Performance (+/-)
Dow Jones
0.48%
S&P 500
0.57%
Nasdaq 100
0.63%
Russell 2000
0.40%
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 higher in premarket on Wednesday. The SPY was up 0.57% at $686.76, while the QQQ advanced 0.62% to $605.01.
Stocks In Focus
Celanese
Celanese Corp. (NYSE:CE) soared 5.94% despite posting downbeat earnings for the fourth quarter. However, the outlook was positive as the company said it sees first-quarter adjusted earnings of 70 cents to 85 cents per share, versus market estimates of 89 cents per share.
CE maintains a stronger price trend over the long, short, and medium terms, as per Benzinga's Edge Stock Rankings.
Ovintiv
Ovintiv Inc. (NYSE:OVV) rose 4.17% after it announced a definitive agreement to sell its Anadarko assets in Oklahoma for $3 billion in cash.
OVV maintains a stronger price trend over the short, medium, and long terms, but ranks poorly in growth, per Benzinga's Edge Stock Rankings.
