Futures mixed on Fed decision day as oil jumps after Houthi strike claim on Saudi refinery
U.S. stock futures were mixed early Wednesday ahead of the Federal Reserve’s interest-rate decision at 2 p.m. ET and earnings from Microsoft and Alphabet after the close, Stocktwits reported via Yahoo Finance. Oil rose after Yemen’s Houthis said they hit Saudi Arabia’s Ras Tanura refinery. These are premarket figures, not closing prices, and the Fed has not yet announced its decision.
Premarket: As of 5 a.m. ET, S&P 500 futures were up 0.05%, Nasdaq-100 futures were up 0.3% and Dow futures were down 0.2%, according to the report. On Tuesday, the S&P 500 rose 0.6% and the Nasdaq-100 gained 1.3%, led by chipmakers, while the Dow ended flat.
The Fed: The central bank is widely expected to hold its benchmark rate in a range of 3.75% to 4% after raising it at its September meeting, CNBC reported. CME’s FedWatch tool showed roughly a 92% chance of no change, though some expect Chair Kevin Warsh to signal that more increases could come, according to CNBC.
Oil: Brent crude futures rose 1.98% to $116.13 a barrel and U.S. crude rose 2.21% to $102.11, according to the Stocktwits report. The Houthis said Tuesday they struck the Ras Tanura refinery, Saudi Arabia’s biggest, with a ballistic missile, Reuters reported. Saudi authorities did not immediately confirm the strike, and Bloomberg cited a person familiar with the matter as saying a fire near the terminal had been contained, according to Reuters.
Company moves: SK Hynix shares jumped more than 8% after the chipmaker reported record results, while Robinhood fell 8.4% premarket after third-quarter results missed estimates, according to the report. Microsoft, Alphabet, Ford, T-Mobile and eBay report after the close. Premarket moves can reverse by the open; this is not investment advice.