Stock Futures Mixed Ahead of Fed Rate Decision

CME FedWatch expects interest rates will remain unchanged

Laura McCandless

Deputy Editor

Jan 29, 2025 at 9:11 AM

Stock futures are struggling for direction ahead of the Federal Reserve's first interest rate decision of 2025, due out at 2 p.m. ET. The CME FedWatch tool shows an extremely high probability that the Fed will keep rates unchanged. Futures on the Nasdaq-100 Index (NDX) are flat following yesterday's rebound from Monday's sharp tech selloff, while the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) sit modestly lower.

Continue reading for more on today's market, including: .

What to expect after Nvidia's major market cap tumble, per Schaeffer's Senior Quantitative Analyst Rocky White.
Technicals to watch for this gold stock.
Plus, Alibaba's AI model vs. DeepSeek; TMUS jumps on earnings, and DJT expands horizons.

5 Things You Need to Know Today

The Cboe Options Exchange (CBOE) saw more than 1.8 million call contracts and 967,197 put contracts exchanged on Tuesday. The single-session equity put/call ratio fell to 0.53 and the 21-day moving average stayed at 0.60.
China-based tech stock Alibaba Group Holding Ltd (NYSE:BABA) is up 3.9% premarket, looking to extend yesterday's 6.7% pop, after the launch of its artificial intelligence (AI) model. The company said its new Qwen 2.5-Max model outperforms DeepSeek’s V3 AI. Year over year, the equity is up 31.6%.
T-Mobile US Inc (NASDAQ:TMUS) is up 6.5% before the bell, after the company posted a strong fourth-quarter earnings beat. Heading into today, TMUS is up 35.6% since last January.
Trump Media and Technology Group Corp (NASDAQ:DJT) is up 14.9% in electronic trading, after the company announced it would expand into crypto and ETFs. Should these gains hold, DJT will recover its 11.9% year-to-date deficit.
Plenty of earnings due out this week.

buzzjan29

UK Finance Minister Supports Heathrow Expansion

Japan’s Nikkei added 1%, after the Bank of Japan’s (BoJ) December meeting minutes revealed discussions on neutral interest rates as inflation stays above its 2% target. Meanwhile, markets in South Korea, Hong Kong, and China were closed for the Lunar New Year holiday.

European markets are mostly higher Wednesday afternoon. London’s FTSE 100 was 0.3% higher at last check, after U.K. Finance Minister Rachel Reeves backed the construction of Heathrow’s third runway to boost growth, investment, and create as many as 100,000 jobs. Elsewhere, Germany’s DAX was last seen 0.8% higher, while France’s CAC 40 trades 0.2% lower.

Follow @Schaeffers

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!