U.S. and Chinese officials will meet in Switzerland this week
All eyes are on Federal Reserve commentary today, due out at the conclusion of the central bank's two-day policy meeting. While interest rates are not expected to change, investors are hoping for insights into the state of the overall economy. At last glance, futures on the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) were all comfortably above breakeven.
Trade negotiations remain in focus, too, amid news that U.S. Treasury Secretary Scott Bessent and top trade official Jamieson Greer will meet Chinese officials in Switzerland this week.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.4 million call contracts and 903,036 put contracts exchanged on Tuesday. The single-session equity put/call ratio came in at 0.64, while the 21-day moving average stayed at 0.59.
- Walt Disney Co (NYSE:DIS) stock is up 7.6% before the open, after the company reported a top- and bottom-line beat for the fiscal second quarter and announced it will open a new theme park and resort in the United Arab Emirates. DIS is looking to trim its 17.2% year-to-date deficit.
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Bank of America upgraded
Wynn Resorts Ltd (NASDAQ:WYNN) stock to "buy" from "neutral," brushing off the casino name's first-quarter profit miss amid
weaker Macao business, focusing instead on its Middle East projects. WYNN fell 14.7% in the last 12 months, but is up 3% in premarket trading.
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Shares of
Upstart Holdings Inc(NASDAQ:UPST) are down a whopping 17.1% before the bell, despite the
artificial intelligence (AI) lending platform's better-than-expected earnings and revenue for the first quarter. Its full-year and current-quarter guidance came in hardly above analysts' estimates, though. UPST could today deepen its 16.5% deficit for 2025.
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Inflation data is due out this week, and the Federal Open Market Committee’s (FOMC) two-day policy meeting will be in focus.
Asian Markets Rise Amid China's Rate Cuts
Asian stocks mostly climbed Wednesday, after China’s central bank announced sweeping rate cuts and a reserve requirement ratio reduction to support growth amid trade pressures. The Shanghai Composite rose 0.8%, and Hong Kong’s Hang Seng added 0.5% after an early surge. South Korea’s Kospi advanced 0.6%, while Japan’s Nikkei dipped 0.1%, though trading houses rallied after Berkshire Hathaway reaffirmed its long-term investment stance.
In Europe, stocks are lower midday as investors digest a wave of corporate earnings and brace for the U.S. Federal Reserve’s policy announcement later today. France’s CAC 40 is off 0.5%, London’s FTSE 100 has shed 0.4%, and Germany’s DAX is down 0.06%. Healthcare stocks are leading the losses, pressured by U.S. tariff concerns targeting the pharmaceutical space.