Stock Futures Mixed Ahead of Earnings Season and Fed Rate Decision
Stock futures were mixed on Wednesday morning, August 23, 2023, as investors awaited the start of earnings season and the Federal Reserve’s decision on interest rates.
Dow Jones Industrial Average futures were up 129 points, or 0.37%, to 34,694.** S&P 500 futures were up 23.75 points, or 0.54%, to 4,406.50. Nasdaq 100 futures were up 107 points, or 0.73%, to 14,851.
Investors are looking ahead to the start of earnings season, which kicks off with major banks on Thursday.
Analysts expect earnings growth to slow in the third quarter, as companies grapple with rising inflation and supply chain disruptions.
In other news, the Federal Reserve is expected to announce its decision on interest rates on Wednesday afternoon. The Fed is widely expected to raise interest rates by 0.25 percentage points, but some investors are concerned that the central bank could surprise with a larger hike.
**The stock market has been volatile in recent weeks, as investors have weighed concerns about inflation and the potential for a recession against strong corporate earnings.** The S&P 500 is down about 1% in August.
**Looking ahead,** investors will be closely monitoring earnings season and the Fed’s decision on interest rates for clues about the direction of the stock market.
**Here are some of the factors that could influence the stock market today:**
* **Earnings season:** Investors will be looking for signs of how companies are faring in the face of rising inflation and supply chain disruptions.
* **Fed rate decision:** The Fed’s decision on interest rates will be closely watched for clues about the central bank’s plans for monetary policy.
* **Economic data:** Investors will be looking for any signs of economic weakness or strength in the latest economic data.
* **Geopolitical developments:** Any geopolitical developments, such as the ongoing conflict in Ukraine, could also impact the stock market.
**Overall, the stock market is expected to remain volatile in the near term, as investors continue to assess the economic outlook and the Fed’s monetary policy stance.** Investors should carefully monitor the latest news and developments for any potential impact on the stock market.