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Stock futures are little changed as Wall Street gears up for Federal Reserve rate decision

10 h ago

U.S. stock futures were little changed Tuesday night as traders awaited the Federal Reserve's interest rate decision. S&P 500 futures edged slightly higher, Nasdaq 100 futures added less than 0.1%, and Dow Jones Industrial Average futures rose 47 points (0.1%). During Tuesday's regular session, the Dow climbed to new intraday and closing highs, gaining 328.64 points (0.64%) and crossing 52,000 for the first time before closing just below that level. In contrast, the S&P 500 fell 0.57% and the Nasdaq Composite dropped 1.15%. SpaceX shares continued their rally, closing up over 4% and nearly 50% above its IPO price of $135, extending gains to 2% in after-hours trading. The moves followed Monday's gains after President Donald Trump announced a potential U.S.-Iran deal to end the war. Pakistani Prime Minister Shehbaz Sharif confirmed both sides had terminated military operations, with an official signing ceremony set for Friday in Switzerland. Citi Research's head of U.S. equity strategy Scott Chronert expressed optimism on CNBC, stating the market is "in pretty good shape for a solid finish to the quarter" and expects leadership from AI infrastructure stocks in the second-quarter reporting period. He noted that falling oil prices amid Iran conflict resolution could allow the Fed to move to the sidelines, extending the broadening playbook and supporting a path higher into the second half of the year. Wednesday's Federal Open Market Committee meeting marks the first with new Chairman Kevin Warsh. Investors expect the Fed to keep rates unchanged at 3.5%–3.75%, though most Wall Street watchers anticipate Warsh will not submit a dot plot. CarMax and Jabil are set to report earnings before the bell, while traders will also monitor May's retail and pending home sales data.