A television station broadcasts Kevin Warsh, chairman of the US Federal Reserve, speaking after a Federal Open Market Committee (FOMC) meeting on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, June 17, 2026.
Michael Nagle | Bloomberg | Getty Images
Stock futures are near flat Tuesday night as traders analyzed the latest batch of corporate earnings while awaiting the Federal Reserve’s rate decision
Dow Jones Industrial Average futures shed 30 points, trading near their flatline. S&P 500 futures were also little changed, while Nasdaq 100 futures slipped 0.2%
Ford Motor shares jumped more than 5% in extended trading after the automaker beat earninings expectations and lifted its 2026 forecast. But Visa shares slipped roughly 1% after the payments stock posted underwhelming guidance
Investors are looking ahead to the Fed decision and subsequent press conference with Chairman Kevin Warsh on Wednesday afternoon. Fed funds futures traders are pricing in a nearly 70% likelihood that the central bank holds rates steady at the current targe range of 3.5% to 3.75%
Traders sent the Dow surging more than 500 points on Tuesday as they geared up for the decision. It marked the blue-chip average’s third straight winning day, with the recent decline in oil prices providing upward momentum
But the Nasdaq Composite ended in the red for the fifth consecutive session, dragged down by struggling chip stocks. The VanEck Semiconductor ETF (SMH) dropped 3.5% in its fourth straight negative session on Tuesday. This decline brought the fund’s one-week loss to more than 9%
“We continue to believe markets are placing too much weight on inflation risk and too little weight on the economic consequences of further tightening,” said Julia Hermann, global market strategist at New York Life Investment Management. “A more hawkish communication stance would likely test today’s narrow market leadership more than the broader market.”
Prior to the Fed decision, investors will monitor earnings from Procter & Gamble and Humana coming before the bell. Results from megacap tech giants Microsoft and Meta Platforms, as well as chipmaker Qualcomm, will be out in the afternoon
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