Editor’s note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.
U.S. stock futures advanced on Wednesday following Tuesday’s mixed close. Futures of major benchmark indices were higher.
New York State’s manufacturing sector showed a modest rebound in October, as detailed in the latest Empire State Manufacturing Survey. The general business conditions index surged nineteen points to 10.7, marking its third positive reading in the last four months.
This uptick was accompanied by an increase in new orders and shipments. Firms also expressed growing optimism for the future, with nearly half anticipating improved conditions in the coming months. However, the report also highlighted persistent inflationary pressures, as the pace of both input and selling price increases accelerated.
Meanwhile, futures were rejoicing at the comments from the Federal Reserve Chair Jerome Powell, who said that “downside risks to employment appear to have risen,” implying more rate cuts are on the cards.
The 10-year Treasury bond yielded 4.01% and the two-year bond was at 3.47%. The CME Group’s FedWatch tool’s projections show markets pricing a 95.7% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
| Futures | Change (+/-) |
| Dow Jones | 0.41% |
| S&P 500 | 0.54% |
| Nasdaq 100 | 0.74% |
| Russell 2000 | 0.92% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Wednesday. The SPY was up 0.74% at $667.11, while the QQQ advanced 0.98% to $603.85, according to Benzinga Pro data.
Stocks In Focus
Bank of America
- Bank of America Corp. (NYSE:BAC) rose 3% in premarket trading, following a strong third-quarter earnings report.
- BAC maintained a stronger price trend over the short, medium, and long terms, with …
Full story available on Benzinga.com
Editor’s note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.
U.S. stock futures advanced on Wednesday following Tuesday’s mixed close. Futures of major benchmark indices were higher.
New York State’s manufacturing sector showed a modest rebound in October, as detailed in the latest Empire State Manufacturing Survey. The general business conditions index surged nineteen points to 10.7, marking its third positive reading in the last four months.
This uptick was accompanied by an increase in new orders and shipments. Firms also expressed growing optimism for the future, with nearly half anticipating improved conditions in the coming months. However, the report also highlighted persistent inflationary pressures, as the pace of both input and selling price increases accelerated.
Meanwhile, futures were rejoicing at the comments from the Federal Reserve Chair Jerome Powell, who said that “downside risks to employment appear to have risen,” implying more rate cuts are on the cards.
The 10-year Treasury bond yielded 4.01% and the two-year bond was at 3.47%. The CME Group’s FedWatch tool’s projections show markets pricing a 95.7% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
| Futures | Change (+/-) |
| Dow Jones | 0.41% |
| S&P 500 | 0.54% |
| Nasdaq 100 | 0.74% |
| Russell 2000 | 0.92% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Wednesday. The SPY was up 0.74% at $667.11, while the QQQ advanced 0.98% to $603.85, according to Benzinga Pro data.
Stocks In Focus
Bank of America
- Bank of America Corp. (NYSE:BAC) rose 3% in premarket trading, following a strong third-quarter earnings report.
- BAC maintained a stronger price trend over the short, medium, and long terms, with …
Full story available on Benzinga.com
Editor’s note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.
U.S. stock futures advanced on Wednesday following Tuesday’s mixed close. Futures of major benchmark indices were higher.
New York State’s manufacturing sector showed a modest rebound in October, as detailed in the latest Empire State Manufacturing Survey. The general business conditions index surged nineteen points to 10.7, marking its third positive reading in the last four months.
This uptick was accompanied by an increase in new orders and shipments. Firms also expressed growing optimism for the future, with nearly half anticipating improved conditions in the coming months. However, the report also highlighted persistent inflationary pressures, as the pace of both input and selling price increases accelerated.
Meanwhile, futures were rejoicing at the comments from the Federal Reserve Chair Jerome Powell, who said that “downside risks to employment appear to have risen,” implying more rate cuts are on the cards.
The 10-year Treasury bond yielded 4.01% and the two-year bond was at 3.47%. The CME Group’s FedWatch tool’s projections show markets pricing a 95.7% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
Futures
Change (+/-)
Dow Jones
0.41%
S&P 500
0.54%
Nasdaq 100
0.74%
Russell 2000
0.92%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Wednesday. The SPY was up 0.74% at $667.11, while the QQQ advanced 0.98% to $603.85, according to Benzinga Pro data.
Stocks In Focus
Bank of America
Bank of America Corp. (NYSE:BAC) rose 3% in premarket trading, following a strong third-quarter earnings report.
BAC maintained a stronger price trend over the short, medium, and long terms, with …Full story available on Benzinga.com Read More$BTC, ABT, Analyst Color, ASML, BAC, Earnings, Equities, GS, Jim Chanos, JPM, Market Summary, MS, PZZA, QQQ, Short Sellers, SPY, WFC, Guidance, Eurozone, Futures, Commodities, Politics, Treasuries, Top Stories, Economics, Federal Reserve, Pre-Market Outlook, Markets, Trading Ideas, ETFs, SPY, US78462F1030, ASML, USN070591862, PZZA, US6988131024, ABT, US0028241000, BAC, US0605051046, GS, US38141G1040, JPM, US46625H1005, MS, US6174464486, WFC, US9497461015, QQQ, US73935A1043, $BTC, Market Summary, Analyst Color, Earnings, Equities, Short Sellers, Guidance, Eurozone, Futures, Commodities, Politics, Treasuries, Top Stories, Economics, Federal Reserve, Pre-Market Outlook, Markets, Trading Ideas, ETFs, Benzinga Markets
