US stock futures, including S&P 500, Dow Jones Industrial Average, and Nasdaq 100, witnessed a decline on Wednesday, as investors eagerly awaited the Federal Reserve's policy decision. Market participants are keenly observing Chair Jerome Powell's statements for indications on the future direction of interest rates.
Alongside this anticipation, treasury yields slightly dipped to around 4.91%. This drop came before the Fed's decision and the US Treasury's quarterly refunding update that was due later on the same day.
Simultaneously, corporate news impacted the market. Despite exceeding revenue and profit margin estimates, shares of Advanced Micro Devices (NASDAQ:AMD) fell due to its disappointing fourth-quarter guidance. The Kraft Heinz Company (NASDAQ:KHC) also failed to meet its third quarter sales forecast.
In contrast to these performances, CVS Health Corporation (NYSE:CVS) delivered a strong third-quarter earnings report. This success was largely attributed to a robust performance in its pharmacy division.
Investors are closely monitoring Jerome Powell's comments for clarity on potential rate changes as Wall Street's focus remains on the Fed's interest rate stance. Amidst successive months of losses, investors are bracing for the Federal Reserve's policy decision as it could potentially impact US stock futures such as S&P 500, Dow Jones, and Nasdaq 100.
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