Investors looks set to sit on their hands ahead of the first day of Federal Open Market Committee’s (FOMC) meeting today to discuss interest rates.
Investors have pushed back expectations of a rate hike to next year, but there is still some tension surrounding the Fed’s policy statement following the decision, which will be announced tomorrow, where much reading between the lines is likely to take place.
The benchmark S&P 500 index, having fallen four points yesterday, is set to repeat that retreat at the outset, according to spread betting quotes. The Dow Jones industrial average is tipped to slide 32 points to 17,591.
Early focus this morning is likely to be on trading updates from big hitters Ford (NYSE:F), Comcast (NASDAQ:CCV), Alibaba (NYSE:BABA), United Parcel Services (NYSE:UPS), Pfizer (NYSE:PFE) and T-Mobile (NYSE:TMUS), due before screen-based trading kicks off.
UK oil giant BP (LON:BP, NYSE:BP) has already weighed in with its third quarter results, which were better than expected.
After the bell, tech icons Apple (NASDAQ:AAPL) and Twitter (NYSE:TWTR) will report.
On the economic front, traders will keep an eye out for the Case-Shiller housing index and the Conference Board’s confidence index.
Companies expected to report today: Aflac; Airgas; Akamai Technologies; AMETEK; Anadarko Petroleum; Apple; Assurant; Baxter International; Bristol-Myers Squibb Co; CBRE Group; CH Robinson Worldwide; Cincinnati Financial; Coach; Comcast; CONSOL Energy; Corning; Cummins; Edison International; EI du Pont de Nemours & Co; Equity Residential; Express Scripts Holding Co; Fiserv; Ford Motor Co; Gilead Sciences; HCA Holdings; IngersollRand; Macerich; Marsh & McLennan Cos; Masco; Merck & Co; Owens-Illinois; PACCAR; Pfizer; Reynolds American; Sealed Air; Simon Property Group; Textron; Total System Services; United Parcel Service; Universal Health Services; Verisk Analytics; Waste Management; Waters; Wyndham Worldwide