HomeFinancial MarketsU.S. Stocks Edge Higher Ahead of Fed Rate Decisions

U.S. Stocks Edge Higher Ahead of Fed Rate Decisions

Stocks edged higher during early trading on Monday as investors brace themselves for the Federal Reserve’s interest rate decision later in the week. The Fed is set to convene on Tuesday and Wednesday, with an announcement due late Wednesday along with a press conference by Fed Chair Jerome Powell.

Futures on the S&P 500 rose 0.2%, while those on the Nasdaq 100 gained 0.3%. Contracts listed on the Dow Jones Industrial Average edged 0.1% higher.

European markets saw plenty of action on Monday, with the Stoxx Europe 600 advancing 0.4% higher during the morning session. Swiss pharmaceutical company Novartis AG reached an agreement to purchase Chinook Therapeutics Inc. for around $3.5 billion, while Teck Resources Ltd. is in talks with Glencore Plc over the potential purchase of the latter’s steelmaking coal business.

Ahead of the Fed’s policy decision, investors will be awaiting the U.S. inflation report set to be released on Tuesday. The report is expected to provide further indication of the likelihood of the Fed implementing a pause to its interest rate hiking agenda.

Home Sales Plummeted in August According to Pending Data

Pending home sales for August were down 7.1% from the previous month, data from the National Association of Realtors revealed. This far outpaces the...

Stocks Fall After the Release of GDP Data

U.S. stocks declined on Thursday as investors digested the latest round of GDP data. Estimates on Thursday showed that the U.S. economy's GDP for...

Hyundai and Kia Recall Over 3 Million Vehicles Due to Fire Risk

Hyundai and Kia are in the process of recalling over 3.4 million vehicles in the United States due to a fire risk. Both automakers...