The Federal Reserve's interest rate decision will come Wednesday
Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are all pointed higher this morning, attempting to shake off last week's tech selloff. More Big Tech earnings will be the story on Wall Street this week, with Apple (AAPL), Amazon.com (AMZN), and Microsoft (MSFT) all expected to report.
Investors are also eager for the Federal Reserve's two-day policy meeting that kicks off tomorrow, where there's a 95.9% chance the central bank keeps interest rates unchanged on Wednesday, per CME's FedWatch tool.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts and 1 million put contracts traded on Friday. The single-session equity put/call fell to 0.73, while the 21-day moving average remained at 0.66.
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Bristol-Myers Squibb Co (NYSE:BMY) attracted a downgrade from Barclays to "underweight" from "equal weight," with the firm noting the
pharma stock's recent post-earnings rally may have been excessive. BMY is 1.3% lower ahead of the open, and is set to widen a slim year-to-date deficit.
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Blue chip
McDonald's Corp (NYSE:MCD) reported worse-than-expected earnings and revenue for the second quarter, amid a hefty drop in same-store sales. The
fast food stock is up 0.5% before the bell, but carries a 15% deficit in 2024.
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Walt Disney Co (NYSE:DIS) stock is up 0.9% in premarket trading, after "Deadpool & Wolverine” made a
record debut as an R-rated film and also brought in over $200 million for its opening weekend. In the last nine months, DIS added 13.4%, but it still carries a small deficit for the year.
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European Markets Mixed Ahead of U.S. Rate Decision
Asian markets finished higher on Monday, ahead of a busy week of economic data for the region. Japan’s Nikkei snapped an eight-day losing streak with a 2.1% pop, while Hong Kong’s Hang Seng rose 1.3%, South Korea’s Kospi added 1.2%, and China’s Shanghai Composite tacked on 0.03%.
European bourses are mixed today, as investors await stateside interest rate decisions stateside and from the Bank of England (BoE) this week. London’s FTSE 100 is up 0.9% at last glance, while the German DAX rises 0.2%. The French CAC 40, meanwhile, is down 0.4%.