The Federal Reserve announces its interest rate decision at ET, followed by a press conference with Chairman Jerome Powell.
It is widely expected that the Fed will cut interest rates for the first time in more than a decade. Attention will then shift to what Powell has to say about the road ahead.
Powell may also face questions about why an interest rate cut is needed at a time when the US economy is strong and unemployment remains historically low, and whether cutting interest rates can now limit the Fed's ability to respond to a future crisis.
The economic impact of the US-China trade struggle is also likely to rise. President Donald Trump's tweets Tuesday with criticism of China indicated that a deal could still be a way to end.
Samsung's smartphone business profits fell by nearly 42% to 1
Revenue fell 4% compared to last year when Samsung also faced price declines in its memory chip business. Shares fell almost 3%.
Apple said Tuesday that iPhone sales for the quarter fell to around $ 26 billion, down nearly 12% from the same period the year before.
But the company managed to increase its overall revenue by 1% year-on-year as it finds more traction selling portable devices and digital services, including Apple Pay and Apple Music. Shares rose more than 4% in trading in the premarket.
Despite tumbling earnings, GE has stood by its guidance in 2019 for industrial free cash flow throughout the year. But it faces a new threat: the Boeing 737 Max crisis.
Dow will rise about 70 points, or 0.3%, when US markets open. The S&P 500 will increase 0.2%, while the Nasdaq will track 0.4%.
5. Coming This Week:
Wednesday – Fedrent Adoption; GE, Occidental Petroleum, Molson Coors and Qualcomm Revenue
Thursday – Bank of England rate decision; General Motors, Dunkin & # 39 ;, Kraft Heinz & Verizon Revenue
Friday – US Labor Reports; Exxon, Chevron and Berkshire Hathaway Revenue
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