Illustration by Michael Haddad
7:10 a.m. It's Fed day, and the Dow Jones Industrial Average looks set for a slightly higher open, thanks to Apple (AAPL).
Dow futures have risen 80 points, or 0.3%, while S&P 500 futures have advanced 0.3%, and Nasdaq Composite futures have gained 0.8%.
Apple's earnings weren't great- it beat, but barely -but Apple stock is up 5.4% at $163.00, helping to lift the major indexes. That's taken some attention away from the Federal Reserve, which will finish its two-day meeting Wednesday afternoon. The Fed is widely expected to leave rates unchanged, but the market will be listening for hints to what comes next.
And don't forget that a delegation from China has arrived in the U.S. for trade talks, And the outcome might even be more important than the Fed. "U.S. trade talk hopes probably matter more today than the FOMC meeting, where'patience' is doubtless the keyword," writes Société Générale's Kit Juckes.
Will the market practice patience?
Write to Ben Levisohn at Ben.Levisohn@barrons.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
