Wall St on pace for higher open as oil pulls back ahead of Fed decision
SPY•U.S. stock futures pointed to a higher open, with Dow futures up 0.35%, S&P 500 futures up 0.38% and Nasdaq 100 futures up 0.53%, as oil prices eased ahead of the Fed's Wednesday rate decision. Royal Caribbean rose after raising its full-year profit forecast, while Whirlpool fell after posting a third-quarter loss.
1. Futures point higher
Wall Street's main indexes were set to open higher Tuesday as easing oil prices supported risk appetite ahead of corporate earnings and the Federal Reserve's interest-rate decision. At 8:21 a.m. ET, Dow E-minis were up 186 points, or 0.35%, S&P 500 E-minis gained 0.38% and Nasdaq 100 E-minis advanced 0.53%.
2. Fed and oil in focus
The Fed is widely expected to hold rates steady on Wednesday after raising them last month. Markets are pricing in at least two more hikes by mid-2027 as inflation indicators remain elevated amid the ongoing U.S.-Iran conflict. Brent crude slipped for a second session but remained near its highest level since late April.
3. Company shares diverge
Royal Caribbean rose 6% after lifting its full-year profit forecast. Whirlpool dropped 5.9% after reporting a third-quarter loss and missing revenue expectations. Coca-Cola and PayPal also raised annual profit forecasts, while Meta slipped 0.4% after increasing its largest-ever equity fundraising to $97.5 billion to fund AI expansion.
