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Wall Street Pauses as Fed Meeting Looms: Futures Hold Steady

U.S. stock futures were little changed on Tuesday as investors awaited the start of the Federal Reserve’s final policy meeting of the year. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all hovered near flat, reflecting a cautious mood across Wall Street. The Fed is widely expected to keep interest rates unchanged, but traders are focused on Chair Jerome Powell’s comments and the central bank’s updated economic projections. Markets are looking for clues on when rate cuts might begin in 2024, with inflation cooling but still above the Fed’s long-term target. Recent gains in equities have been fueled by optimism that the Fed’s tightening cycle is over, yet uncertainty remains about how quickly monetary policy will shift toward easing. Until then, investors appear content to hold their positions, waiting for clearer signals from the Fed before making bold moves.
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Los Angeles Wildfires Rage On: Death Toll Rises to 24 as Santa Ana Winds Return




The devastating wildfires that have been ravaging Southern California for the past week have claimed at least 24 lives, with officials warning of a "particularly dangerous situation" as the Santa Ana winds return to the region.

Three large fires continue to burn in Los Angeles County: the Palisades Fire, which has burned 23,713 acres and is 13% contained the Eaton Fire, which has scorched more than 14,100 acres and is 27% contained; and the Hurst Fire, which has burned 799 acres and is 95% contained.

The National Weather Service has issued a rare warning, forecasting that parts of Los Angeles and Ventura counties will be in a "particularly dangerous situation" starting Tuesday at 4 a.m. local time. "Do NOT do anything that could spark a fire," the NWS said in the advisory. "Peak winds for this next event will be weaker than those last week. Nevertheless, winds will be strong enough to potentially cause explosive fire growth."

Los Angeles Fire Chief Kristin Crowley urged people to stay away from neighborhoods that are still seeing flames. "There are still active fires that are burning within the Palisades area, making it extremely, extremely dangerous for the public," she said.

The Walt Disney Company has committed $15 million to immediate response teams helping out in the Los Angeles area, including the American Red Cross, the Los Angeles Fire Department Foundation, and the Los Angeles Regional Food Bank.

As the fires continue to burn, the IRS has announced tax relief for individuals and businesses affected by the wildfires, extending the tax filing deadline to October 15.

The situation remains critical, and residents are urged to stay vigilant and follow all safety instructions from local authorities.



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