Stock market today: Dow, S&P 500, Nasdaq drift ahead of Warsh's first Fed meeting as chair
U.S. stock futures are flat to slightly lower as traders brace for Federal Reserve Chair Kevin Warsh’s first meeting, where rates are expected to stay unchanged. The Dow closed at a record high Monday amid hopes of a U.S.-Iran peace deal, though tech stocks and the Nasdaq slipped as Fed uncertainty lingers. Oil prices remain volatile, reacting to geopolitical shifts.
What changed
Dow closed at an all-time high Monday; futures now drift ahead of Warsh’s Fed meeting and Iran deal developments.
Live updates
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Stocks drift ahead of Warsh’s Fed debut; Dow hits record on Iran deal optimism
confidence 93%U.S. stock futures are flat to slightly lower as traders brace for Federal Reserve Chair Kevin Warsh’s first meeting, where rates are expected to stay unchanged. The Dow closed at a record high Monday amid hopes of a U.S.-Iran peace deal, though tech stocks and the Nasdaq slipped as Fed uncertainty lingers. Oil prices remain volatile, reacting to geopolitical shifts.
What's confirmed:
- The Dow Jones Industrial Average hit new intraday and closing records Monday, driven by optimism over a potential U.S.-Iran peace deal.
- Stock futures are little changed Tuesday, trading flat to slightly lower as investors await the Federal Reserve’s first policy meeting under Chair Kevin Warsh.
- The S&P 500 slipped 0.6% Monday, with gains and losses nearly evenly split among stocks, while the Nasdaq Composite surged 3.07% the prior day.
- Seven of the 11 S&P 500 sectors rose Monday, led by technology, communication services, and consumer discretionary stocks.
- Oil prices fell again Monday, reacting to geopolitical developments, including expectations of a U.S.-Iran agreement.
- The Federal Reserve is widely expected to keep interest rates unchanged at its first meeting under Warsh’s leadership.
Still unconfirmed:
- A U.S.-Iran peace agreement could be signed in Switzerland Friday, potentially reopening the Strait of Hormuz.
- SpaceX stock is rallying on reports of a deal with Cursor, though details remain unconfirmed.