(Editor’s note: The future prices of benchmark tracking ETFs, the lede, and the headline were updated in the story.)
Dow Jones and S&P 500 futures declined, while Nasdaq rose in premarket on Wednesday, following Tuesday’s lower close.
New orders for manufactured durable goods in March increased by 0.8% to $318.9 billion, bouncing back after three consecutive monthly declines. When excluding the transportation sector, new orders grew by 0.9%.
In trade data, the U.S. advanced international trade deficit for goods widened to $87.9 billion in March, up from $83.5 billion in February. Meanwhile, advance wholesale inventories rose 1.4% to $932.8 billion, and advance retail inventories increased 0.7% to $823.5 billion.
Investors will be closely watching the Federal Reserve’s decision to gauge how the central bank is navigating interest rates amid the ongoing U.S.-Iran war. Additionally, Jerome Powell‘s press conference at 2:30 p.m. ET is widely considered to be his last as Chair of the Fed.
The CME Group’s FedWatch tool‘s projections show markets pricing a 100% likelihood of the Federal Reserve leaving the current interest rates unchanged in today’s meeting.
Four out of seven ‘Magnificent 7’ heavyweights will announce their earnings results today after the bell, which include Microsoft Corp. (NASDAQ:MSFT) and Meta Platforms Inc. (NASDAQ:META).
Meanwhile, the 10-year Treasury bond yielded 4.36%, and the two-year bond yield was at 3.85%.
| Index | Performance (+/-) |
| Dow Jones | 0.09% |
| S&P 500 | 0.08% |
| Nasdaq 100 | 0.29% |
| Russell 2000 | 0.18% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were mixed in premarket on Wednesday. The SPY was down 0.11% at $710.90, while the QQQ advanced 0.10% to $658.22.
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