1. Fed focus: The US Federal Reserve wraps up its first meeting under new chief Jerome Powell and will be announcing its interest rate decision at 2 p.m. ET. Powell will then hold his first press conference as Fed chairman.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | -32.00 | | -26.00 | | -3.50 | | -0.13% | | -0.38% | | -0.13% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -99.93 | | -9.69 | | -40.80 | | 21,380.97 | | 3,280.95 | | 7,020.47 | | -0.47% | | -0.29% | | -0.58% | | | |
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| | | Biggest Winners | | Advanced Micro Devices Inc | +1.71% | | | | Adobe Systems Inc | +0.98% | | | | Kinder Morgan Inc | +0.90% | | | | Albemarle Corp | +0.78% | | | Biggest Losers | | Facebook Inc | -1.87% | | | | Cboe Global Markets Inc | -1.67% | | | | Expedia Inc | -1.19% | | | | Philip Morris International Inc | -1.18% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Fed focus; Facebook in crisis; General Mills earnings | By Alanna Petroff
Wednesday, March 21st, 5:52am | | | | 1. Fed focus: The US Federal Reserve wraps up its first meeting under new chief Jerome Powell and will be announcing its interest rate decision at 2 p.m. ET. | | | | Powell will then hold his first press conference as Fed chairman. | | | | The central bank is all but certain to lift interest rates. The bigger question is, what will the Fed do next? | | | | The US central bank has been slowly raising rates to keep the economy humming without causing it to overheat. But a recent $1.5 trillion tax cut and $300 billion spending bill, along with an improved economic outlook, have more recently changed that calculus. | | | | It may now have to raise rates faster than it had planned to prevent the economy from overheating. | | | | Fed officials will also release revised economic forecasts on Wednesday, which will signal whether the central bank expects to raise rates four times this year rather than three. | | | | 2. Facebook debacle: Shares in Facebook could continue their descent as investor sue and regulators launch investigations into the company's business practices involving user data. | | | | There are concerns about how Facebook allowed outsiders including the political data firm Cambridge Analytica to use its data. | | | | Facebook shares were down 2.5% premarket. The company's market value has plunged almost $50 billion this week. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 3. Earnings: General Mills is set to release earnings before the bell, while Guess and Scholastic will follow after the close. | | | | Hong Kong-listed tech giant Tencent released annual results on Wednesday. Shares in the firm doubled last year and the company's valuation has now firmly surpassed that of Facebook. | | | | BMW shares gained less than 1% after the German automaker said that its operating profit increased 5.3% in 2017. | | | | 4. Global stock market overview: US stock futures were soft. | | | | European markets were mixed in early trading. Asian markets ended with minor gains and losses. | | | | On Tuesday, the Dow Jones industrial average jumped 0.5%, the S&P 500 added 0.2% and the Nasdaq climbed 0.3%. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Wednesday — Powell's first press conference
Thursday — Darden, Nike earnings | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $63.90 | +0.36 / +0.57% | | | Gold | $1,316.70 | +4.80 / +0.37% | | | 10-yr | 2.88% | 0.00 / 0.00% | | | Euro | $1.23 | +0.00 / +0.29% | | | |
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