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U.S. futures were mixed on Wednesday as investors awaited the outcome of the Federal Reserve’s policy meeting. Nasdaq 100 futures (NDX) and S&P 500 (SPX) decreased by approximately 0.87%, 0.72%, and 0.34%, respectively. On the other hand, the Dow Jones Industrial Average (DJIA As of 3 a.m. EST on January 31st, it was up 0.07%.
During my after-hours activities, I work with semiconductor company Advanced Micro Devices (NASDAQ:AMD) saw its stock fall 6.5% due to continued challenges in the embedded and gaming sector. Meanwhile, tech giant Alphabet (NASDAQ:Google) Ad revenue fell nearly 6% in the fourth quarter as it fell short of expectations. On the other hand, Manhattan Associates (NASDAQ:MAN) rose more than 13% on positive outlook for 2024.
Paying attention to important financial results announcements, aircraft manufacturer Boeing (New York Stock Exchange:BA) will report its fourth quarter results on Wednesday. The company’s sales are expected to increase due to an increase in commercial aircraft operations. However, earnings may continue to come under pressure. In addition, mobile chipset manufacturer Qualcomm (NASDAQ:QCOM) is scheduled to announce its first quarter 2024 financial results after the market closes on Wednesday.
On the other hand, crude oil prices were on a downward trend at the time of writing due to China’s overwhelming economic indicators. WTI crude oil futures are rising and were hovering around $77.43 per barrel at last check.
Elsewhere, European indexes are expected to have a mixed start as investors await the latest monetary policy decisions from the US Federal Reserve.
Asia-Pacific markets remain mixed today
Asia-Pacific indexes were mixed on Wednesday as investors assessed a slew of economic data across the region, including China’s manufacturing PMI.
Hong Kong’s Hang Seng Index ended 1.61% lower. Meanwhile, China’s Shenzhen Component Index and Shanghai Composite Index ended with declines of 1.95% and 1.48%, respectively.
Japan’s Nikkei Stock Average and TOPIX ended 0.61% and 0.96% higher, respectively.
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