Investors will be closely watching the Federal Reserve’s decision to gauge how the central bank is navigating interest rates amid the ongoing U.S.-Iran war. Additionally, Jerome Powell's press conference at 2:30 p.m. ET is widely considered to be his last as Chair of the Fed.
The CME Group's FedWatch tool‘s projections show markets pricing a 100% likelihood of the Federal Reserve leaving the current interest rates unchanged in today’s meeting.
Four out of seven ‘Magnificent 7’ heavyweights will announce their earnings results today after the bell, which include Microsoft Corp. (NASDAQ:MSFT) and Meta Platforms Inc. (NASDAQ:META).
Meanwhile, the 10-year Treasury bond yielded 4.36%, and the two-year bond yield was at 3.85%.
Index
Performance (+/-)
Dow Jones
0.09%
S&P 500
0.08%
Nasdaq 100
0.29%
Russell 2000
0.18%
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 0.063% at $712.14, while the QQQ advanced 0.21% to $658.90.
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Stocks In Focus
Booking Holdings
Shares of Booking Holdings Inc. (NASDAQ:BKNG) were 4.13% lower in premarket on Wednesday after the company said it sees second-quarter sales of $7.070 billion to $7.206 billion, versus market estimates of $7.566 billion.
Benzinga’s Edge Stock Rankings indicate that BKNG maintains a weak price trend in the short, medium, and long terms, with a weak growth ranking.
Robinhood Markets
Robinhood Markets Inc. (NASDAQ:HOOD) stock dropped 9.60% after its first-quarter revenue of $1.07 billion missed the Street consensus estimate of $1.18 billion. The company reported earnings per share ...
