S&P Futures are edging flat to lower this morning as investors await remarks from Fed Chair Jerome Powell ahead of the opening bell. Yesterday’s Fed minutes pointed to the potential for additional rate cuts later this year.
China has announced new restrictions on rare earth exports, while President Trump and President Xi are expected to meet later this month at the APEC summit in South Korea to continue trade discussions. President Trump will also meet with Finland’s President today.
The U.S. government shutdown remains in effect, though there are indications of renewed negotiations. In corporate headlines, Microsoft is said to be developing its own AI models to compete with OpenAI, and the White House has approved several billion dollars in NVIDIA chip sales to the UAE.
TSMC reported a decline in September revenue, Ferrari (RACE) is sharply lower after a guidance update, and both Delta (DAL) and PepsiCo (PEP) are trading higher following strong earnings results. Levi Strauss (LEVI) reports after the bell today.
🎧 Tune in to NewsWare’s Trade Talk for your pre-market update and the headlines shaping Wall Street today.
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