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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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Fed keeps interest rates unchanged, stocks rally



US stocks rose on Wednesday as the Federal Reserve voted to hold interest rates at their highest range in 22 years at the conclusion of its latest policy meeting.  The Federal Reserve decided to keep its benchmark interest rate in a range of 5.25%-5.50%, The Fed is waiting to see the impact of its previous rate hikes on the economy.

The S&P 500 was up more than 1.05% while the Dow ones Industrial Average  gained almost 0.7%. Meanwhile, the tech-heavy Nasdaq  rose about 1.6 %.with the S&P 500, the Dow Jones, and the Nasdaq all gaining more than 0.7%. Investors were relieved that the Fed did not signal any further tightening in the near term.

Fed Chair Jerome Powell said policy makers would proceed carefully although they were not yet confident financial conditions were restrictive enough to get inflation as low as the central bank would like.

Treasury yields edged lower, with the 10-year yield trading around 4.8%. Yields ticked lower earlier Wednesday after the US Treasury's quarterly refunding update revealed the Treasury will auction $112 billion in debt next week, roughly in line with Wall Street's expectations.


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