Dow Futures Bouncing Back Before Rate Decision
Investors are focused on Fed Chair Powell’s post-decision rhetoric
Stocks look ready to snap out of their recent slump, as investors await the Federal Reserve’s widely anticipated interest rate cut at 2 p.m. ET today. Wall Street also hopes to gain some clues about future monetary policy from Fed Chair Jerome Powell in his post-decision presser.
Dow Jones Industrial Average (DJIA) futures are sporting a triple-digit lead at last check, with the blue-chip benchmark looking to snap out of its worst losing streak in 46 years. Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) futures are higher as well, with investors also unpacking the first drop in mortgage demand in five weeks as mortgage rates rise.
Continue reading for more on today’s market, including:
- Best and worst stocks for the holidays, per Senior Quantitative Analyst Rocky White.
- Keep tabs on these 3 drone stocks in 2025.
- Plus, Birkenstock’s strong report; Merck buys obesity drug; and General Mills’ dismal forecast.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 2.1 million call contracts and 1 million put contracts exchanged on Tuesday. The single-session equity put/call ratio fell to 0.49 and the 21-day moving average remained at 0.61.
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Birkenstock Holding PLC (NYSE:BIRK) beat profit expectations for the fiscal fourth quarter, and also reported a 21% year-over-year rise in revenue. BIRK is 5.1% higher in premarket trading, looking to add to its a 15% year-to-date lead.
- Dow member Merck & Co Inc (NYSE:MRK) inked a $2 billion deal with China-based Hansoh Pharma to develop, manufacture, and sell its obesity drug. The pharma stock is up 0.9% before the open, but is down 8.2% in 2024.
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General Mills Inc (NYSE:GIS) earlier cut its profit outlook for 2025. Shares are down 4.4% ahead of the bell, and could slip below their year-to-date breakeven should these losses hold.
- Plenty of economic data still coming after the Federal Reserve’s interest rate decision.
European Markets Eye England’s Policy Meeting
Markets in Asia finished mixed today, as investors awaited the Bank of Japan’s (BoJ) interest rate decision, due out later this week. The region did release trade data, which showed a 3.8% year-over-year growth in exports, surpassing expectations. Also coming later this week will be loan prime rates out of the People’s Bank of China. For the session, Japan’s Nikkei was the only loser, falling 0.7%. South Korea’s Kospi rose 1.1%, Hong Kong’s Hang Seng added 0.8%, and China’s Shanghai Composite tacked on 0.6%.
Stocks are in the black across the pond, with more U.K. inflation data in focus. Borrowing costs hit a 34-year high in Germany, after U.K. inflation climbed as expected to 2.6% for November. The Bank of England (BoE) is slated for its own policy meeting tomorrow, where it’s anticipated to keep rates steady. At last check, France’s CAC 40 is up 0.2%, Germany’s DAX and London’s FTSE 100 are both up 0.3%.
