U.S. stocks ended lower on Wednesday, after the Federal Reserve announced its recent policy decision.
At the end of its two-day policy meeting, the US Fed raised its policy rate by 75 basis points for the third time. However, Fed policymakers also signalled more rate hikes in the coming period, with new projections showing rate increasing to 4.40% by the year end.
Bitcoin (CRYPTO: BTC), the world’s most valued cryptocurrency, traded higher, climbing above the $19,000 level this morning after the US Federal Reserve raised interest rates by 75 bps at its September meeting.
NVIDIA (NVDA) - The company was in focus Tuesday and Wednesday following what one analyst called "the biggest graphics processing unit launch in NVIDIA history": its GeForce RTX 40 series graphics cards.
Stitch Fix, Inc. (NASDAQ: SFIX) reported a wider-than-expected loss for its fourth quarter and issued weak Q1 sales guidance.
Stitch Fix said it expects fiscal first-quarter revenue to be between $455 million and $465 million versus the estimate of $522.68 million.
Credit Suisse raised the price target on Morgan Stanley (NYSE: MS) from $95 to $97. Credit Suisse analyst Susan Roth Katzke maintained the stock with an Outperform rating. Morgan Stanley shares rose 1.2% to $88.20 in pre-market trading.
U.S. stock futures traded slightly higher this morning after recording losses in the previous session. Here are some big stocks moving lower in today’s pre-market trading session.
The CNN Money Fear and Greed index showed a rise in the fear level among U.S. investors after the Dow Jones closed lower by around 300 points on Tuesday.
The Federal Open Market Committee started its two-day policy meeting on Tuesday. Investors are bracing for another big rate increase from the Federal Reserve today.
Pre-open movers
U.S. stock futures traded slightly higher in early pre-market trade on Wednesday after recording losses on Tuesday. The Dow Jones closed lower by more than 300 points, while the Nasdaq Composite fell over 100 points in the previous session.