Futures Rebound On Tech Earnings – Fed In Focus

U.S. equity futures rebounded on Wednesday on strong tech earnings, ahead of the Fed’s crucial interest rate statement.

Solid earnings from tech giant Microsoft boosted the sentiment ahead of the Fed’s decision on interest rates. Markets now expect the Fed to signal multiple rate hikes, but not until March.

Moreover, a potential for geopolitical risks, slower growth and earnings could make the Fed postpone its rate hikes even further.

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Federal Reserve Open Market Committee will reveal its open market decision at 2 PM Eastern time. Chairman Jerome Powell will make a statement for the press shortly thereafter.

Level Chg. Chg. %
DOW Futures 34,522.00 334 0.98%
S&P 500 Futures 4,407.25 58.25 1.34%
Nasdaq Futures 14,416.00 274.25 1.94%

U.S. Dollar and Treasuries

The yield on the 10-year Treasury rose one basis point. The dollar strengthened against a basket of major currencies.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 96.1 +0.15 +0.16%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.653% 0.101 0.553%
U.S. 5 Year Treasury Note 1.581% 0.024 1.557%
U.S. 10 Year Treasury Note 1.787% 0.011 1.776%

 

Stocks To Watch

Tesla is reporting earnings after the market close today. The company surged with other tech stocks. Chipmaker NVIDIA, big data firm Palantir and processor maker AMD gained more than 3%.

Microsoft was up in premarket trading after reporting that earnings continued to grow in Q4, as its cloud business remained strong.

Sports betting company DraftKings surged 7.6% in premarket trading, after an upgrade from investment bank Morgan Stanley.

Symbol Company Name Price Chg. % Volume
MSFT Microsoft Corp. $301.35 4.46% 1.07M
NVDA NVIDIA Corp. $231.19 3.56% 620.17K
TSLA Tesla Inc. $954.00 3.88% 485.12K
PLTR Palantir Technologies Inc. $13.63 4.36% 382.15K
AMD Advanced Micro Devices Inc. $114.30 2.85% 315.45K
DKNG DraftKings Inc. Cl A $20.69 7.09% 289.69K

 

Commodities To Watch

Oil rose to $89 on Ukraine-Russia tension. Gold dropped in premarket trading, after rising above $1,846 during Tuesday’s selloff. 

Resource Price Chg. %
WTI Crude Oil $86.35 0.88%
Brent Crude Oil $89.18 1.11%
Natural Gas $4.11 5.50%
Gold $1,846.80 -0.31%
Silver $23.98 0.33%
Copper $4.51 1.42%

 

Crypto

Crypto prices rebounded with other risk assets. The crypto market cap is $1.71T, a 3.44% increase over the last day. Bitcoin’s dominance is currently 42.01%, an increase of 0.02% over the same period. 

Currency Symbol Price Chg. % Market Cap.
Bitcoin BTC $37,788.67 +3.42% 715.74b
Etherium ETH $2,537.16 +4.04% 301.78b
Binance coin BNB $387.62 +3.91% 57.62b
Solana SOL $96.66 +4.61% 30.43b
Cardano ADA $ 1.097 +6.42% 34.12b

 

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