Futures on the New York Stock Exchange held steady on Wednesday as investors braced themselves for the Federal Reserve’s final interest rate decision of the year due later in the day. Contracts listed on the Dow Jones Industrial Average and the S&P 500 were slightly above the flatline, while those on the Nasdaq 100 gained 0.2%.
Tesla shares fell after the electric vehicle maker recalled more than two million cars in order to fix an autopilot safety flaw and announced that some Model 3 vehicles will lose a US consumer tax credit. At the same time, oil rose slightly, with West Texas Intermediate (CL=F) and Brent crude futures both advancing about 1% to trade at $69 per barrel and $74 per barrel, respectively.
Markets remain fully focused on the Federal Reserve’s policy meeting. While the central bank is expected to keep rates unchanged, investors will be listening in on comments by Fed Chair Jerome Powell in order to find clues on potential rate cuts next year.