US stock futures rose Wednesday in anticipation of the Federal Reserve’s decision on rates, set to be announced at 2 p.m. ET.
Futures on the S&P 500 were up around 0.29%, while Dow futures were up around 0.37% and Nasdaq futures gained by 0.21%.
Markets slid lower Tuesday as the Dow continued a nine-day losing streak, its longest since 1978. The blue-chip index fell 267 points in one day, or 0.61%, continuing a slide largely caused by UnitedHealth stock falling.
The S&P 500 and Nasdaq also both fell Tuesday, with the S&P sliding by 0.39% and the tech-heavy index closing 0.32% lower.
Tuesday’s market slide was a blip compared to the past year’s gains. US stocks have been on a tear since President-elect Donald Trump’s victory in the US presidential election.
The Nasdaq crossed 20,000 for the first time last week and hit a record high on Monday before sliding lower on Tuesday. The Nasdaq is up around 35% this year.
The S&P 500 is up over 28% this year, crossing 6,000 for the first time on November 8. And while the Dow is on a recent losing streak, the blue-chip index is up over 17% this year.
The US dollar was largely unchanged, and Treasury yields slightly gained.
Bitcoin fell to just under $105,000, after reaching a record high above $107,000 on Monday.
The Federal Reserve’s decision on rates is the focus for Wall Street today. Investors will also be looking to the Fed’s summary of economic projections, released quarterly, which will detail their expectations for rate cuts next year.
