US Stock Futures Steady as Cooling Inflation and Strong Earnings Support Markets 
BSP Sees Philippine Inflation Easing, Keeps Policy Options Open 
Wall Street Falls as Oil Prices Rise, Fed Minutes and Retail Earnings in Focus 
US Dollar Slips as Soft Economic Data Eases Fed Rate Hike Expectations 
Australian Consumer Sentiment Jumps 6% in August as Rate Outlook Improves 
Colombia Earthquake Losses Estimated at $9.58 Billion as Reconstruction Challenge Mounts 
Foreign U.S. Treasury Holdings Fall as Japan, UK and China Cut Positions 
US Dollar Holds Steady as Fed Rate Bets and Iran Tensions Drive Markets 
Gold Prices Slide as Treasury Yields Surge, Fed Minutes in Focus 
Japan Economy Grows 1.1% in Q2 as Consumer Spending Stalls 
Yen Edges Higher as Weak US Data Dampens Fed Rate Hike Expectations 
Morgan Stanley Sees Fed Holding Rates as U.S. Inflation Cools 
Gold Prices Hold Near $4,400 as Fed Rate Hike Bets Fade 
US Dollar Hovers Near Multi-Month Lows as Fed Rate Hike Bets Ease 
Wall Street Slides as Treasury Yields Surge to 19-Year High 
European Stocks Slide as Iran War Escalation Sends Oil Higher 
Oil Prices Rise as Iran-U.S. Tensions Threaten Strait of Hormuz Supply 
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The S&P 500 ended slightly lower on Tuesday as Wall Street awaited a pivotal Federal Reserve decision and reacted to a warning from JPMorgan that pressured the broader market. Investors expect the Fed to deliver a quarter-point interest rate cut this week, but many anticipate a more cautious, hawkish tone given inflation’s persistence above the central bank’s 2% target.
The Fed began its two-day policy meeting Tuesday, and while traders see an 87% chance of a 25-basis-point cut, uncertainty remains about the path ahead. Recent comments from Fed officials have been mixed, with some warning that inflation could reaccelerate while others express growing concern about labor market softening. Fresh data added to the ambiguity: U.S. job openings inched higher in October even as hiring stayed slow, and a separate NFIB survey showed more small businesses planning to add workers.
Jeff Schulze of ClearBridge said the rise in job openings could prompt the Fed to sound “modestly less dovish,” increasing expectations of a possible pause after this week’s cut.
U.S. Treasury yields also climbed, weighing on equities as the 10-year yield rose to 4.18%, marking its fourth straight day of gains. That backdrop helped stall the recent stock rally ahead of Wednesday’s Fed announcement.
The Dow fell 0.38%, the S&P 500 slipped 0.09%, and the Nasdaq edged up 0.13%. The Russell 2000 touched a record high before closing up 0.2%. Bank stocks were volatile, with the S&P 500 bank index reversing early gains to fall 2% after JPMorgan said expenses could reach $105 billion in 2026. JPMorgan shares tumbled 4.7%, their steepest drop since April.
Technology stocks also saw choppy trading after President Donald Trump said Nvidia could ship H200 AI chips to China with a 25% export fee, even as new reports suggested potential restrictions from Beijing.
Nvidia dipped 0.3%, and the semiconductor index slipped 0.04%. Investors also monitored upcoming earnings from Oracle and Broadcom, key players in AI infrastructure spending.
In corporate news, Warner Bros. gained 3.8% amid a bidding war involving Paramount, Skydance, and Netflix. Campbell Soup slid 5.2% after raising select product prices, while AutoZone sank 7.2% following weaker-than-expected quarterly results. JPMorgan, Campbell, and AutoZone were the S&P 500’s biggest decliners.
Market breadth remained slightly positive, with advancing stocks outnumbering decliners on both the NYSE and Nasdaq. Trading volume totaled 14.50 billion shares, below the recent 20-day average.
