watch
now
U.S.
stock
futures
were
little
changed
Tuesday
night
following
a
winning
day
for
the
major
averages,
as
investors
awaited
the
latest
Federal
Reserve
policy
decision.
Dow
Jones
Industrial
Average
futures
were
flat.
S&P
500
futures
dipped
0.03%,
while
Nasdaq
100
futures
inched
higher
by
0.05%.
Wall
Street
is
coming
off
a
positive
session
for
the
major
benchmarks.
The
30-stock
Dow
advanced
320
points,
or
0.8%,
notching
its
best
day
since
Feb.
22.
The
S&P
500
rose
roughly
0.6%,
while
the
Nasdaq
Composite
added
about
0.4%.
Recent
weakness
in
tech
stocks
has
had
some
investors
deliberating
whether
the
artificial
intelligence
rally
is
slowing,
as
other
parts
of
the
market
gain
traction.
On
Tuesday,
communication
services
—
which
includes
the
likes
of
Alphabet
and
Meta
Platforms
—
was
the
only
losing
sector
in
the
S&P
500,
as
energy
and
utilities
stocks
led
the
broader
index.
Semiconductor
stocks
also
underperformed,
with
the
VanEck
Semiconductor
ETF
(SMH)
slipping
0.2%.
Shares
of
bitcoin
proxy
MicroStrategy
and
Super
Micro
Computer
were
notable
decliners.
“All
else
equal,
it’s
not
a
bad
thing
to
see
this
rotation
and
churn
happening
under
the
surface,”
Liz
Ann
Sonders,
chief
investment
strategist
at
Charles
Schwab,
said
on
CNBC’s
“Closing
Bell.”
“I
think
it
is
sending
a
message
about
economic
resilience,
and
that’s
why
there’s
more
of
a
cyclical
bias
to
what
has
been
working.”
The
Fed
is
broadly
anticipated
to
keep
interest
rates
unchanged
at
the
conclusion
of
its
two-day
policy
meeting
on
Wednesday.
However,
investors
will
scan
the
dot
plot
for
insight
into
the
number
and
timing
of
rate
cuts,
with
many
anticipating
the
central
bank
will
start
lowering
rates
in
June.
Some
are
concerned
a
recent
spate
of
hot
inflation
reports
could
result
in
even
fewer
cuts
than
markets
are
anticipating.
“The
dot
plot
could
show
that
we’ve
taken
yet
another
cut
out
of
what
have
been
three,”
Sonders
said.
“The
question,
though,
is
at
what
point
does
it
hit
the
market,
given
we’ve
had
this
market
resilience.
I
think
ultimately,
it’s
not
just
about
the
Fed
reaction
function,
but
the
sustainability
of
the
economic
growth
profile.”
On
the
corporate
earnings
front,
Micron
Technology
and
General
Mills
will
report
results
Wednesday.
