1. Fed focus: Wall Street is watching the Federal Reserve, which will release its latest decision on interest rates and monetary policy at 2:00 p.m. ET. Investors are expecting there will be no change to policy this time around, but another rate increase could come in December.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +127.00 | | +33.25 | | +10.75 | | +0.54% | | +0.53% | | +0.42% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +408.47 | | +2.57 | | +15.30 | | 22,420.08 | | 3,395.91 | | 7,508.38 | | +1.86% | | +0.08% | | +0.20% | | | |
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| | | Biggest Winners | | Freeport-McMoRan Inc | +2.65% | | | | Alexion Pharmaceuticals Inc | +2.56% | | | | Chesapeake Energy Corp | +2.31% | | | | American Airlines Group Inc | +2.09% | | | Biggest Losers | | Envision Healthcare Corp | -30.75% | | | | Electronic Arts Inc | -2.42% | | | | Fiserv Inc | -2.26% | | | | United Continental Holdings Inc | -1.37% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Fed focus; Tax reform delay; Tech gets grilled | By Alanna Petroff
Wednesday, November 1st, 6:07am | | | | 1. Fed focus: Wall Street is watching the Federal Reserve, which will release its latest decision on interest rates and monetary policy at 2:00 p.m. ET. | | | | Investors are expecting there will be no change to policy this time around, but another rate increase could come in December. | | | | "The Fed has raised rates twice since January and [there are] forecasts [for] one more hike by the end of the year as part of a tightening cycle that began in late 2015," wrote FxPro analysts in a daily research note. | | | | Thursday promises to be an even bigger day for the central bank: That's when President Trump is expected to announce his choice for Fed chair. | | | | 2. Stock markets roar: It's rare to see global stocks rising in unison, but that's the situation on Wednesday. | | | | U.S. stock futures were pushing higher, setting markets up for potential records. | | | | European markets made a strong showing in early trading. Germany's Dax index led the way with gains of roughly 1.4%. | | | | Asian markets also ended the day in positive territory. | | | | The Dow Jones industrial average and S&P 500 inched up by 0.1% on Tuesday, while the Nasdaq rose by 0.4% to hit an all-time high. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 3. Taxes and tech: Republican lawmakers have delayed the release of their tax reform bill until Thursday because they are still negotiating key provisions in the bill. | | | | It's a setback for GOP leaders who have been focused on tax reform and enthusiastically touted the November 1 announcement. | | | | Investors want to see whether the Republicans are able to effectively implement their policies, and get a sense of how any tax changes could impact the wider economy. | | | | Meanwhile, tech firms remain in the spotlight. | | | | At 9:30 a.m. and again at 2 p.m., top legal executives from Facebook, Twitter and Google will testify before the Senate and House Intelligence Committees. | | | | The execs are in Washington this week to answer questions on how foreign nationals used social media in an attempt to meddle in the 2016 presidential election. | | | | At the first hearing on Tuesday, the tech companies were pressed on their ability to prevent bad actors from taking advantage of their platforms through ads and regular posts. | | | | 4. Earnings: New York Times, Estee Lauder and SodaStream will report earnings before the opening bell. | | | | Tech firms including Facebook, Tesla, Fitbit, Yelp and GoPro will report after the closing bell. They will be joined by a number of food and restaurant firms, including Kraft Heinz, Shake Shack and Cheesecake Factory. | | | | Sony shares trading in Tokyo surged by 11% following well-received results. | | | | Investors will also be monitoring the latest October U.S. auto sales data, which will be released throughout the day. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Wednesday -- Facebook, Tesla report earnings
Thursday -- Apple, Starbucks, Yum! Brands, Ralph Lauren, CBS earnings; House releases tax reform bill
Friday -- October jobs report; iPhone X hits stores | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $55.06 | +0.68 / +1.25% | | | Gold | $1,281.10 | +10.60 / +0.83% | | | 10-yr | 2.38% | +0.01 / +0.25% | | | Euro | $1.16 | -0.00 / -0.00% | | | |
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