Markets Point Higher Ahead of Federal Reserve Rate Decision

First Look

Futures for major U.S. equity indices traded on either side of the break-even mark overnight. The Federal Reserve concludes a two-day meeting today with a policy statement and press conference. No changes to interest-rate policy are expected, but the central bank may alter the terms of some of its emergency lending programs and will likely update its outlook on the economy. The Nasdaq is up 0.56%, the S&P is up 0.25%, the Dow Jones is up 0.13%.

Today's Sentiment

Quote of the Day

Those that despise people will never get the best out of others and themselves.
Alexis de Tocqueville

Stocks on the Move

L Brands Inc (LB), General Motors Company (GM) and Molson Coors Beverage Co Class B (TAP) are moving higher this morning, while ONEOK, Inc. (OKE), Visa Inc (V) and General Dynamics Corporation (GD) are headed lower. Tenable Holdings Inc (TENB), QTS Realty Trust Inc Class A (QTS) and Quest Diagnostics Inc (DGX) were upgraded by analysts this morning, while Just Energy Group Inc (JE), Align Technology, Inc. (ALGN) and Seagate Technology PLC (STX) were downgraded.

International Markets

Stocks in Asia are mixed. The Shanghai SE Composite Index is up 2.06%, the Hang Seng is up 0.45%, the Australia ASX All Ordinaries is down -0.31% the Mumbai Sensex is down -1.1% and the Nikkei 225 is down -1.15%. In Europe stocks are mixed. The CAC 40 is up 0.83%, the FTSE 100 is up 0.14%, the Euro Stoxx 50 is up 0.11% and the DAX is flat 0%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up 0.46 at 41.5 per barrel. Brent crude is up 0.59 at 43.81 per barrel. Natural Gas is down -0.02 at 1.78. Precious metals are mixed this morning. Gold is down -2.17 at 1956.26 per ounce. Platinum is up 9.32 at 945.61 while silver is up 0.18 at 24.48. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 1,232,952 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 612,948 put contracts. The single-session put/call ratio was 0.5.

Today's Economic Calendar

Earnings Expected Today