Stock market today: Live updates

Stock market today: Live updates

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Traders deal with the flooring of the New York Stock Exchange (NYSE) on September 01, 2022 in New York City.

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U.S. stock futures all increased on Wednesday early morning as financiers expected the Federal Reserve’s most current policy choice.

Dow Jones Industrial Average futures climbed up by 46 points, or 0.14%. S&P 500 and Nasdaq 100 futures increased 0.12% and 0.02%, respectively.

Ford Motor beat experts’ expectations on the leading and bottom lines in its most current quarter, as did coffee chain Starbucks However, both stocks decreased in after-hours trading.

On Tuesday, the significant averages notched their 2nd straight losing session. The Dow Jones Industrial Average dropped 367.17 points, or 1.08%. The S&P 500 decreased 1.16%, while the Nasdaq Composite fell 1.08%.

Ongoing issues of contagion in the local banking sector weighed on markets following the First Republic Bank’s collapse and subsequent takeover by JPMorgan. This comes ahead of the Federal Reserve’s most current policy choice, with financiers anticipating an approximately 85% possibility for a rate of interest trek, according to CME Group’s Fed Watch tool.

“There’s still pain throughout the sector,” iCapital’s Anastasia Amoroso stated Tuesday on CNBC’s “Closing Bell: Overtime.” “And the reason why I think the bank action should really matter to the Fed is because, remember, in the last FOMC meeting, Fed Chair Powell really gave us new metrics to watch in terms of whether they’re going to be raising rates or not. And that is the extent of the credit tightening that’s happening in the economy.”

Corporate incomes season continues with CVS Health, Yum Brands and Spirit AeroSystems reporting outcomes Wednesday prior to the open.

On the financial front, traders are expecting the most recent ADP tasks information forApril Economists surveyed by Dow Jones anticipate an increase of 133,000 tasks last month. That would be a decrease from the 145,000 task increase the previous month.

The S&P Global U.S. Services PMI information for April is likewise due. It’s anticipated to reveal a reading at 53.7 last month, which remains in line with the previous month.

April’s ISM non-manufacturing PMI information is anticipated to reveal 51.8, according to Dow Jones agreement quotes. That’s greater than the 51.2 reading from the previous month.