(Editor’s note: The lede, headline, futures and ETFs data were updated.)
U.S. stock futures were mixed on Wednesday, as the Dow Jones index slipped, the Nasdaq 100 and S&P 500 indices gained, following Tuesday’s mixed close.
This comes as the U.S. military said it intercepted a surprise Iranian missile attack after U.S. Central Command, or CENTCOM, said Iran launched multiple ballistic missiles at U.S. forces in the Middle East, reviving concerns over Middle East stability and global energy supplies.
Additionally, President Donald Trump told reporters aboard Air Force One on Monday that the U.S. should have the lowest interest rate in the world.
Investors are eagerly waiting for the Federal Open Market Committee decision on interest rates today as Fed Chair Kevin Warsh eliminated any forward-looking guidance during his last speech.
Despite no forward guidance, the CME Group’s FedWatch tool’s projections show markets pricing a 70.6% likelihood of the Federal Reserve leaving the current interest rates unchanged.
Meanwhile, the 10-year Treasury bond yielded 4.61%, and the two-year bond was at 4.30%.
| Index | Performance (+/-) |
| Dow Jones | -0.45% |
| S&P 500 | 0.09% |
| Nasdaq 100 | 0.05% |
| Russell 2000 | 0.07% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were lower in premarket on Wednesday. The SPY was down 0.089% at $740.20, while the QQQ declined by 0.10% to $674.79.
Read Also: Stock Market: Will S&P 500 Open Up or Down Today?
Stocks In Focus
Ford Motor
- Ford Motor Co. (NYSE: F ) rose 4.08% in premarket on Wednesday after reporting better-than-expected second-quarter earnings and raising its FY26 adjusted EBIT guidance.
- Benzinga’s Edge Stock Rankings indicate that F maintains a strong price trend in the long, short, and medium terms.
Microsoft
- Microsoft Corp. (NASDAQ: MSFT ) was up 0.96% as analysts expect it to post quarterly earnings of $4.24 per share on revenue of $87.63 billion after the closing bell.
- Benzinga’s Edge Stock Rankings indicate that MSFT maintains a weak price trend in the short, long, and medium terms, with a moderate growth score.
Meta Platforms
- Meta Platforms Inc. (NASDAQ: META ) was 0.70% higher as analysts expect it to post quarterly earnings of $7.18 per share on revenue of $60.22 billion after the closing bell.
- Benzinga’s Edge Stock Rankings indicate that META maintains a weak price trend in the short, medium, and long terms, with a good quality score.
Qualcomm
- Qualcomm Inc. (NASDAQ: QCOM ) was down 0.60% as analysts expect it to post quarterly earnings of $2.09 per share on revenue of $9.67 billion, after the closing bell.
- Benzinga’s Edge Stock Rankings indicate that QCOM maintains a weak price trend in the long, short, and medium terms, with a moderate value score.
Bloom Energy
- Bloom Energy Corp. (NYSE: BE ) surged 11.00% as it posted second-quarter revenue of $1.07 billion, beating analyst estimates of $ 822.77 million, and adjusted earnings of 78 cents per share, beating estimates of 40 cents per share.
- Benzinga’s Edge Stock Rankings indicate that BE maintains a weak price trend in the short and medium terms but a strong trend in the long term, with a good growth score.
Cues From Last Session
Consumer staples, health care, and materials stocks recorded the largest gains on Tuesday as most S&P 500 sectors ended in positive territory, though energy and information technology shares bucked the broader trend to close lower.
| Index | Performance (+/-) | Value |
| Dow Jones | 1.03% | 52,747.32 |
| S&P 500 | 0.21% | 7,428.78 |
| Nasdaq Composite | -0.22% | 24,932.08 |
| Russell 2000 | 0.20% | 24,876.91 |
Insights From Analysts
Professor Jeremy Siegel views the U.S. economy and stock market as facing a “more balanced environment” characterized by solid underlying strength alongside near-term market friction.
Siegel highlights that fundamental economic data points toward a healthy expansion, noting exceptionally strong labor conditions and stable growth. However, rising energy costs present a key macroeconomic challenge.
Regarding monetary policy, Siegel expects the Federal Reserve to hold interest rates steady, though he anticipates the Fed will have to navigate ongoing money supply expansion and persistent inflation risks.
While long-term fundamentals remain favorable, Siegel stresses that “the bar for positive surprises has become considerably higher” due to elevated valuations, rising real yields, and higher oil prices.
- Geopolitics: Geopolitical resolution in the Middle East remains a primary catalyst: “If the Strait of Hormuz was opened, I believe the market would be 5% to 10% higher.”
- AI & Capital Spending: Siegel advises caution regarding tech capital expenditures, comparing heavy AI spenders to historical “Capital Pigs.” While the AI revolution remains intact, “markets are beginning to distinguish between companies building the infrastructure and those capable of earning attractive returns on that infrastructure.”
Ultimately, Siegel expects future equity gains to require greater selectivity and disciplined attention to valuation
Upcoming Economic Data
Here’s what investors will be keeping an eye on this Wednesday.
- The U.S. interest rate decision will be released by 2:00 p.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude Oil WTI futures were trading higher in the early New York session by 3.18% to hover around $81.75 per barrel.
Gold Spot US Dollar rose 0.27% to hover around $4,039.51 per ounce. The U.S. Dollar Index spot was 0.07% lower at the 101.3480 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.39% higher at $64,305.37 per coin over the last 24 hours.
Asian markets closed mixed on Wednesday, as Japan’s Nikkei 225 and South Korea’s Kospi indices fell. Australia’s ASX 200, Hong Kong’s Hang Seng, India’s Nifty 50, and China’s CSI 300 indices rose. European markets were mostly lower in early trade.
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