Investors are eyeing the producer price index data, which is scheduled to be released before the market opens today.
Additionally, the Street is also awaiting the Federal Open Market Committee’s decision on interest rates later in the day, which will be followed by the Fed Chair Jerome Powell‘s press conference and the publication of the Summary of Economic Projections.
The CME Group's FedWatch tool‘s projections show markets pricing a 98.9% likelihood of the Federal Reserve leaving the current interest rates unchanged later today.
With the U.S.-Iran war entering its third week, President Donald Trump said that the U.S. is not prepared to bring the military conflict to a close, but would still exit soon. "We're not ready to leave yet. But…we'll be leaving in the near future. We'll be leaving in pretty much the very near future," said Trump. –
Meanwhile, the 10-year Treasury bond yielded 4.17%, and the two-year bond was at 3.66%.
Index
Performance (+/-)
Dow Jones
0.54%
S&P 500
0.51%
Nasdaq 100
0.62%
Russell 2000
0.92%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Wednesday. The SPY was up 0.48% at $674.01, while the QQQ advanced 0.63% to $607.10.
Stocks In Focus
Lululemon Athletica
Lululemon Athletica Inc. (NASDAQ:LULU) fell 2.04% in premarket on Wednesday after it issued fiscal year guidance below estimates.
Benzinga’s Edge Stock Rankings indicate that LULU maintains a weaker price trend over the short, medium, and long terms, with a poor quality score.
CF Industries
CF Industries Holdings Inc. (NYSE:CF) fell 2.72% as crude oil futures declined and ...
