Wall Street set to open higher ahead of much-anticipated Fed decision

Energy stocks were in negative territory during premarket trading. Devon Energy and ConocoPhillips fell more than 1% each. Tech stocks were mixed, with Nvidia and Meta up nearly 1% each. Microsoft fell marginally, while Apple was flat. A joint call by top AI executives to slow down the development of the technology has clouded the outlook for the tech sector, although there is little clarity as yet on what such a slowdown would look like. Meanwhile, Intel was up 3.3% before the opening bell, paring some gains after rising more than 5% earlier. South Korea's SK Hynix said no plans had been confirmed regarding reported talks with Intel for making memory chips in the United States. At 8:07 a.m. ET, Dow E-minis YMcv1 rose 170 points, or 0.33%, S&P 500 E-minis EScv1 gained 27.25 points, or 0.36%, and Nasdaq 100 E-minis NQcv1 were up 173.75 points, or 0.60%. "The market is incredibly resilient. It has every reason to fall in a meaningful way, and yet it isn't," said Adam Sarhan, director at marketterminal.com. Oil prices dipped after reports that Saudi Arabia was offering additional crude cargoes via Oman eased concerns about the scale of Middle East supply disruptions. Brent crude futures LCOc1 were down 1.7% at $106.88 and U.S. West Texas Intermediate crude futures CLc1 fell 2.7% to $103. The major U.S. stock indexes were set to open higher following a two-day slide, as lower oil prices offered some relief during a tense wait for the Federal Reserve's interest rate decision on Wednesday. The rate move, scheduled to be announced at 2 p.m. ET, will be crucial to investor sentiment at a time when elevated Treasury yields, inflation and the escalating Middle East conflict have kept risk appetite in check. Investors are also expected to focus on Fed Chair Kevin Warsh's remarks for clues on the inflation outlook and the likely path of rates. While traders see a nearly 93% chance of an increase, according to the CME FedWatch tool, uncertainty persists. Fed Chair Warsh was picked by U.S. President Donald Trump with the expectation that he would cut interest rates. If the central bank stands pat, it could throw its credibility into question, especially as Warsh has said he remains focused on taming price pressures, analysts say. "We think market pricing for a rate hike may be overly confident," said Yung-Shin Kung, head and chief investment officer at Mast Investments. A rate increase could be a weak tool to address the primary factors driving inflation, such as tariffs and the AI infrastructure buildout, he added.

Wall Street set to open higher ahead of much-anticipated Fed decision

Stocks in premarket trading

Index futures and oil prices

Futures point higher ahead of Fed decision

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