The Fed’s monetary policy announcement is likely to be in the spotlight on Wednesday amid another relatively quiet day on the U.S. economic front.

Chip maker Advance Micro Devices will be reporting quarterly results after the close today.

In the Asian trading session, the dollar snapped three days of declines, while oil extended gains.

Asian shares finished mostly up, while European shares are trading in negative territory.

Early signs from the U.S. Futures Index suggest that Wall Street might open positive.

As of 8.05 am ET, the Dow futures were up 189.00 points, the S&P 500 futures were adding 20.00 points and the Nasdaq 100 futures were progressing 49.50 points.

The U.S. major averages finished Tuesday firmly in negative territory. The Dow slumped 389.83 points or 1.0 percent to 40,829.00, the Nasdaq slid 154.58 points or 0.9 percent to 17,689.66 and the S&P 500 fell 43.37 points or 0.8 percent to 5,606.91.

On the economic front, the Energy Information Administration or EIA’s Petroleum Status Report for the week will be released at 10.30 am ET. In the prior week, the Crude Oil Inventories were down 2.7 million barrels and the gasoline inventories were down 4.0 million barrels.

The Federal Open Market Committee or FOMC announcement is expected at 2.00 pm ET. The consensus is in a range of 4.25 to 4.50 percent with no change in the base points, while it was 4.25 to 4.50 percent in the prior period.

The Fed Chair Press Conference is scheduled at 2.30 pm ET.

The Consumer Credit for March is expected at 3.00 pm ET. The consensus is $10 billion, while it was down $0.8 billion in the prior month.

Asian stocks advanced on Wednesday. China’s Shanghai Composite index rose 0.80 percent to 3,342.66.

Hong Kong’s Hang Seng index edged up by 0.13 percent to 22,691.88.

Japanese markets ended slightly lower. The Nikkei average slid 0.14 percent to 36,779.66. The broader Topix index settled 0.31 percent higher at 2,696.16.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 rose 0.33 percent to 8,178.30 while the broader All Ordinaries index closed up 0.36 percent at 8,399.80.

European shares are trading mostly higher. CAC 40 of France is down 43.60 points or 0.57 percent. DAX of Germany is declining 8.05 points or 0.03 percent. FTSE 100 of England is falling 38.27 points or 0.45 percent. The Swiss Market Index is sliding 74.60 points or 0.61 percent.

Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.24 percent.

Business News




Wall Street Aims To Bounce Back At Open

2025-05-07 12:28:46

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