US Stock Futures Dip as Investors Await FOMC Decision

Team FS

    19/Mar/2024

Key Points:

  1. Caution Prevails: US stock futures edged lower on Tuesday, with S&P 500 contracts down 0.3%, Dow Jones slipping 40 points, and Nasdaq 100 declining by 0.6%. Traders are exercising caution ahead of the Federal Open Market Committee (FOMC) monetary policy decision scheduled for the next day.

  2. Tech Giants Face Pressure: Pre-market trading saw Nvidia's shares down by 1.7% following underwhelming announcements at the company's conference. Similarly, Apple (-0.2%) and Alphabet (-0.9%) experienced declines after previous gains, while Tesla fell by 1.2% before the opening bell.

  3. Positive Moves: On a positive note, Unilever witnessed a nearly 3% increase in its stock value after unveiling plans for a spin-off of its ice cream business and announcing a restructuring, signaling potential growth opportunities.

The US stock market kicked off with a cautious tone as futures pointed to a slight downturn. Investors are treading carefully amidst anticipation surrounding the Federal Open Market Committee's (FOMC) upcoming monetary policy decision. S&P 500 contracts slipped by 0.3%, with the Dow Jones losing 40 points, and Nasdaq 100 declining by 0.6%.

Tech giants faced pressure in pre-market trading, with Nvidia's shares dropping by 1.7% due to disappointing announcements at its recent conference.

Similarly, Apple and Alphabet saw slight decreases after previous gains, while Tesla fell by 1.2% before the market opened.

However, there were positive movements as well, with Unilever's stock surging nearly 3% following its announcement of plans to spin-off its ice cream business and undergo restructuring, potentially signaling promising developments for the company. Investors remain vigilant as they await further guidance from the FOMC meeting.

Also Read : J. Kumar Infraprojects Secures Major Development Project in Delhi
The project's scope, executed on an Engineering, Procurement, and Construction (EPC) basis, signifies a holistic approach towards infrastructure development. With a total contract value of Rs. 334.25 crores, inclusive of all taxes and statutory levies, this venture promises to elevate Delhi's transportation network to unprecedented heights.

Also Read : Stock Market Today - Investors Nervous as World Economy Changes
A sharp sell-off in the Indian equity market on Tuesday saw investors' wealth plummet, with the BSE's market capitalization dropping by about ₹5 lakh crore. Both the Nifty 50 and Sensex experienced notable losses, reflecting widespread selling triggered by global economic shifts.

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