Dow Jones futures were relatively unchanged early Wednesday, along with S&P 500 futures and Nasdaq futures. The Federal Reserve will conclude its two-day meeting on Wednesday afternoon, with the focus on the Fed’s rate-cut outlook. Intel, Chipotle, and Super Micro were all making headlines.
The stock market had a modest gain on Tuesday, especially with the Nasdaq battling back from initial losses.
Nvidia initially saw a decline following its AI event, but eventually turned slightly higher. Several other artificial intelligence stocks also saw losses trimmed or turned positive. However, Advanced Micro Devices retreated while Super Micro Computer tumbled on plans for a share offering. SMCI stock continued to decline early Wednesday after the offering was priced overnight.
Broadcom will be holding an AI investor meeting at noon ET on Wednesday, while Micron Technology will be releasing its fiscal Q2 results with AI implications later in the night. Microsoft is scheduled to hold its own AI event on Thursday.
A range of stocks, including Woodward, CyberArk Software, CrowdStrike Holdings, Arista Networks, Ares Management, and many others, are worth keeping an eye on.
Investors are advised to tread cautiously until after the Fed meeting and Fed Chief Jerome Powell’s news conference.
The content mentioned the rise of Chipotle Mexican Grill due to plans for a stock split, Intel receiving grants and loans amounting to nearly $20 billion, and PDD Holdings beating Q4 views with a surge in its stock price.
The Fed meeting and Powell’s news conference are anticipated to impact stocks and treasury yields on Wednesday afternoon.
Dow Jones futures showed a slight decline, with S&P 500 futures edging lower and Nasdaq 100 futures slightly rising. The 10-year Treasury yield saw a decline, while crude oil futures fell.
Key stocks like Nvidia, Intel, and Super Micro were discussed in the context of recent developments in the market.
Various ETFs, such as the iShares Expanded Tech-Software Sector ETF, VanEck Vectors Semiconductor ETF, and ARK Innovation ETF, were analyzed as well.
The article also highlighted the performance of specific stocks, such as Nvidia, AMD, Broadcom, and Super Micro, among others.
Investors were recommended to watch certain stocks closely and be prepared for potential market moves post the Fed meeting and Powell’s news conference.
