Stocks futures remain unchanged ahead of Fed meeting

4
1 minute
Stocks futures remain unchanged ahead of Fed meeting

Stocks futures were little changed on Wednesday, as a lack of fresh catalysts, delayed with investors awaiting inflation data this week and an upcoming Fed meeting.

But buying into so-called meme stocks by small-time retail investors continued, with the new social media favorite Clover Health overdue 17% in trade on Tuesday after jumping 85% to a new record high.

GameStop - the company most closely associated with the quarterly rally this year - rose 2.4% ahead of the Retail results, due after the bell.

Wall Street indexes have moved little this week amid a dearth of cues, with most investors sticking to the sidelines ahead of the key inflation data on Thursday.

The Fed's next meeting is also expected to shed more light on the bank's policy tapering plans. While inflation has continued in recent months, a dovish labor market is broadly expected to keep the bank sluggish.

At 06:15 a.m. Sitting at 1.75 points, or 0.04%, Dow E-minis were down 20 points, or 0.06%, while Nasdaq 100 E-minis were up 20 points or 0.14%.

A strong earnings season saw Wall Street through May to record highs, with analysts suggesting markets had taken a break in recent weeks after the gains.

Shares of major banks came under some pressure as loan yields sank to one-month lows. China-listed stocks showed little reaction to a sweeping package of legislation designed to strengthen the United States' ability to compete with Chinese technology.

The move drew some criticism from China.

  • Comments
Loading comments...