Tonight’s Highlights | Market Eyes Fed’s Major Decision  

On Wednesday, US stock futures for the three major indices showed mixed performance in pre-market trading.  

 

As of press time, Dow Jones futures rose 0.12%, S&P 500 futures gained 0.01%, and Nasdaq 100 futures fell 0.01%.  

 

 

On the individual stock front, Tesla and Nvidia each dropped over 1% pre-market; meanwhile, leading Chinese ADRs performed strongly, with Baidu up 8.6%, Alibaba up 2.5%, and Pinduoduo and NIO each gaining nearly 3%.  

 

The previous trading day saw the three major US indices close lower amid choppy trading, as investors remained cautious ahead of the Federal Reserve’s interest rate decision.

 

 

The CME FedWatch tool indicates a 94% probability of a 25-basis-point rate cut, with the remaining 6% betting on a 50-basis-point cut. The day prior, US Treasury Secretary Bessent noted that a 25-basis-point cut has already been priced into the market.  

 

Paul McCulley, former chief economist at Pimco, suggested the most likely outcome is a cautious 25-basis-point cut, saying, “I don’t know how to justify a 50-basis-point cut in the current context, and that’s not the message Chairman Powell wants to send.”  

 

Notably, the Fed will also release its interest rate projections, known as the “dot plot,” alongside the decision, offering guidance on future rate actions. Just before press time, White House trade advisor Navarro remarked that current rates are at least 100 basis points above normal levels.  

 

European markets trading currently showed mixed results, with the German DAX up 0.14%, the UK FTSE 100 up 0.27%, and the French CAC 40 down 0.16%.  

Corporate News  

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GSK: To Invest $30 Billion in US Over Five Years for R&D and Infrastructure  

 

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STMicroelectronics: $60 Million Upgrade for French Plant, Launches Advanced Chip Pilot Line  

 

Chipmaker STMicroelectronics announced on Wednesday a $60 million investment to upgrade its factory in Tours, France, planning to establish a pilot line for advanced semiconductor manufacturing technology. The new technology, dubbed “Panel-Level Packaging (PLP),” will allow STMicroelectronics to produce chips on large square panels, replacing traditional small circular silicon wafers.  

 

Crypto Exchange Bullish Secures New York BitLicense, Expands US Market  

 

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