Wall Street was set to open slightly lower on Tuesday as investors stayed away f...
- Wall Street was set to open slightly lower on Tuesday as investors stayed away from making big bets ahead of the Federal Reserve’s two-day policy meeting, where it is widely expected to cut interest rates.
Traders currently see a 65.8% chance of a quarter percentage point cut from the Fed this week, down from 88.8% on Friday, according to CME’s FedWatch. Since the last interest rate cut in July, U.S. economic data has shown mixed signals about the domestic economy. While strong retail sales and wage growth have bolstered consumer confidence, the trade war with China has weighed on manufacturing and business sentiment.
At 8:35 a.m. ET, Dow e-minis 1YMcv1 were down 74 points, or 0.27%. S&P 500 e-minis EScv1 were down 5.75 points, or 0.19% and Nasdaq 100 e-minis NQcv1 were down 13.5 points, or 0.17%.
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