President Trump said that North Korea is "no longer a nuclear threat"
Futures on the Dow Jones Industrial Average (DJI) are pointed modestly higher ahead of this afternoon's conclusion of the two-day Federal Open Market Committee (FOMC) meeting, with a rate hike expected to be announced. Traders are also digesting President Donald Trump's latest comments on yesterday's historic summit with North Korea, as Trump tweeted that Pyongyang is "no longer a Nuclear Threat [sic]." On the equity front, media and telecom stocks will be in focus today, after a federal judge late Tuesday cleared AT&T (T) to purchase Time Warner (TWX) for $85 billion.
Continue reading for more on today's market, including:
- What small-cap leadership really means for stocks, according to Schaeffer's Senior Quantitative Analyst Rocky White.
- Call buyers pounced on soaring Snap stock.
- Analyst: Sell risky SeaWorld stock.
- Plus, Hershey stock plunges on analyst downgrade; HRB disappoints with weak full-year revenue; and Johnson & Johnson's $2.1 billion deal.

5 Things You Need to Know Today
- The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Tuesday, compared to 556,234 put contracts. The single-session equity put/call ratio fell to 0.50, while the 21-day moving average remained at 0.58.
- Credit Suisse downgraded Hershey Co (NYSE:HSY) to "underperform" from "neutral" and cut its price target to $80 from $90, citing the global shift to e-commerce shopping as the catalyst. HSY has been on a long-term downtrend, most recently touching a fresh annual low of $89.12 on May 3. The chocolate maker is down 2% in electronic trading.
- H & R Block Inc (NYSE:HRB) has plunged 19% in pre-market trading after the company issued a weak full-year revenue and margin forecast, which has overshadowed the tax preparer's fiscal fourth-quarter earnings and revenue beat. HRB has been on a recent surge higher, but is now set to gap below support at its 20-day and 50-day moving averages at the open.
- Consumer goods giant Johnson & Johnson (NYSE:JNJ) is fractionally higher in electronic trading, after the company announced that it had accepted a $2.1 billion buyout offer from Platinum Equity for its LifeScan division. JNJ has been on a downtrend since early February, having shed 12.3% year-to-date as of Tuesday's close.
- Today will mark the conclusion of the previously mentioned Fed meeting, capped off by the much-awaited 2 p.m. ET FOMC policy announcement, and a follow-up press conference from Fed Chair Jerome Powell. We've already gotten a fresh reading on the producer price index (PPI), with the MBA mortgage index and weekly crude inventories on deck. Tailored Brands (TLRD) will report earnings.

China Stocks Sink; European Markets Edge Higher
Stocks in China pulled back today, as traders braced for this week’s central bank announcements, while keeping an eye on global trade uncertainties. The Shanghai Composite fell 1%, and most sectors struggled -- though telecom stocks saw some of the sharpest declines as Shenzhen-based ZTE sold off. Hong Kong’s Hang Seng tracked these losses, closing down 1.2%. Also declining was South Korea’s Kospi, shedding 0.1%, but Japan’s Nikkei managed a 0.4% advance as Tokyo-listed equities got a boost from real estate and auto strength.
Turning to Europe, the major equity benchmarks are sporting mild gains at midday. Broadly speaking, stocks have overcome early deficits, with tech names leading the way. Some of the names making notable moves in London are online food ordering specialist Just Eat and mining juggernaut Glencore. The former is under pressure following expansion plans from rival Deliveroo, and the latter is gaining on restructuring details for a subsidiary. The U.K.'s FTSE 100 is trading up 0.5%, the German DAX has gained 0.4%, and France’s CAC 40 is 0.3% higher.