U.S. Dollar Index Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -0.20%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.61%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.08%.
U.S. stock index futures this morning are moderately lower ahead of the results of this afternoon’s FOMC meeting and comments from Fed Chair Powell. Conflicting labor market news today is weighing on stocks after the Jan ADP employment change rose less than expected at the slowest pace in 2 years, but the Dec JOLTS job openings unexpectedly increased to a 5-month high. Other U.S economic reports today on Jan ISM manufacturing and Dec construction spending were weaker than expected.
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... Read more