The Dow rises ahead of the Fed’s interest rate decision
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The Dow futures increased slightly on Wednesday morning as investors braced for the Federal Reserve’s interest rate decision, expected at 2 p.m. Eastern Time. Following the announcement of the Federal Open Market Committee (FOMC), Fed Chair Jerome Powell will discuss the economic outlook and the trajectory of monetary policy. This decision could have a significant impact on the economic and financial landscape heading into 2025.
The CME Group’s FedWatch tool, which measures market expectations for Fed fund rate changes, expects a 25-basis-point rate cut. If that occurs, it would reduce the rate to a range of 4.25% to 4.50%.
Shortly after the market opened, the Dow Jones Industrial Average was up 70 points, or 0.22%. The Dow is on a nine-day losing streak, the longest since 1978. The S&P 500 and the tech-heavy Nasdaq dipped 0.1% and 0.2%, respectively.
Micron Technology (MU+1.56% will announce its quarterly results after the closing bell. Nvidia (NVDA+3.33%) shares, which declined earlier this week, bounced back in the morning, up 3% to $134 per share.
