U.S. stock futures barely budged early today as investors await the outcome from the Federal Reserve’s two-day policy meeting and comments from Fed Chair Jerome Powell later in the day.
Dow Jones Industrial Average futures pointed to an opening gain of about 25 points. Both S&P 500 futures and Nasdaq 100 futures traded near breakeven. Today, the Fed will release new economic and interest rate forecasts, which could indicate Fed officials expect to raise rates by, or even before, 2023.
The central bank is expected to acknowledge stronger growth, which should put the Fed’s easy policies in the spotlight, especially given the new $1.9 trillion in federal stimulus spending. On Tuesday, the Dow lost nearly 130 points, dragged down by a near 4% drop in Boeing’s stock. The 30-stock average snapped a seven-day winning streak, The S&P 500 dipped 0.16%, after setting a record high during the trading session.