Traders analyzed the Federal Reserve‘s January meeting minutes, which exposed significant disagreements among officials concerning the future of interest rates.
Although the records indicated that some policymakers discussed possible rate increases to combat persistent inflation, market participants maintained their outlook for two rate reductions before the year concludes.
Additionally, indirect nuclear talks between Iran and the U.S. stalled in Geneva psuhing the oil prices higher.
Meanwhile, the 10-year Treasury bond yielded 4.10%, and the two-year bond was at 3.47%. The CME Group's FedWatch tool‘s projections show markets pricing a 94% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
Index
Performance (+/-)
Dow Jones
-0.12%
S&P 500
-0.08%
Nasdaq 100
-0.08%
Russell 2000
-0.24%
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 Thursday. The SPY was down 0.17% at $685.11, while the QQQ declined 0.18% to $604.68.
Stocks In Focus
DoorDash
DoorDash Inc. (NASDAQ:DASH) jumped 13.57% in premarket on Thursday despite posting weaker-than-expected fourth-quarter results, as it expects the first quarter marketplace gross order value (GOV) in a range of $31 billion to $31.8 billion and adjusted EBITDA in a range of $675 million to $775 million.
DASH maintains a weaker price trend over the long, short, and medium terms, with a solid growth ranking, as per Benzinga's Edge Stock Rankings.
eBay
eBay Inc. (NASDAQ:EBAY) soared 7.87% after reporting better-than-expected fourth-quarter financial results. It also announced a definitive agreement with Etsy Inc.
