Nasdaq 100 E-Mini Futures Market News and Commentary
March S&P 500 futures (ESH23) this morning are down -0.25% and March Nasdaq 100 E-Mini futures (NQH23) are down -0.09%.
U.S. stock index futures this morning are modestly lower as the markets await the results of today’s FOMC meeting. Disappointing quarterly earnings reports from Snap, Electronic Arts, and Western Digital are weighing on the overall market. Stock index futures recovered most of their overnight losses after this morning’s report on Jan ADP employment showed U.S. companies slowed their pace of hiring more than expected, which is dovish for Fed policy.
Expectations are for the FOMC later today to raise the fed funds target range by 25 bp to 4.50%-4.75%, slowing from last month’s 50 bp rate increase and November’s 75 bp increase. The markets will look to post-FOMC meeting comments from Fed Chair Powell to see if he will push back against market expectations of easier monetary policy later this year.
A rally in European stock... Read more