From Nasdaq: 2024-09-17 13:43:35

September S&P 500 E-Mini futures up +0.30% before Fed meeting. Wall Street ends mixed, Intel gains +6%, Oracle up +5%. Charles Schwab reports +4% y/y growth in new accounts. Apple falls -2%, chip stocks slide. NY Empire State manufacturing rises to 11.50 in September, beating expectations of -4.10.

Federal Reserve begins two-day meeting with expectations of rate cut. Rate futures show 33.0% chance of 25 basis point cut, 67.0% chance of 50 basis point cut. Focus on retail sales data, forecasted at -0.2% m/m for August. U.S. Industrial Production data expected at +0.2% m/m for August.

Euro Stoxx 50 futures up +0.62%. German investor sentiment worsens in September. ZEW Economic Sentiment Index reports below expectations. Nikkei 225 down -1.03%, China markets closed. Japan’s economy anticipated to continue mild recovery with increased wages and capital expenditures.

Japan reports +1.4% m/m increase in July Tertiary Industry Activity Index. Pre-market U.S. stock movers include Intel up +6% after multibillion-dollar chip agreement with Amazon. Microsoft raises dividend by 10%, Shopify upgraded to Buy, SolarEdge downgraded to Underperform. Today’s earnings spotlight on Ferguson (FERG).



Read more at Nasdaq: S&P Futures Tick Higher Ahead of U.S. Retail Sales Data and FOMC Meeting