Before the Bell
Stock futures point to a modestly higher open, with S&P 500 futures up +0.25% and Nasdaq 100 futures up +0.36% as Monday's tech rebound, sparked by Anthropic's IPO filing, carries into a second day. Two things frame the session: the Federal Reserve begins a two-day policy meeting today, with its decision due Wednesday at 2 p.m., and oil is easing, with WTI crude down -0.7% near $101 on hopes for Middle East diplomacy. The 10-year Treasury yield sits just under 5%, and futures pricing cited by Yahoo Finance puts the odds of a hike this week near 10%.
On Monday, the S&P 500 rose +0.70% to 7,676.77, the Nasdaq Composite gained +0.82% to 26,169.38 and the Dow added +0.28% to 52,361.58. Tesla rose roughly 5% after a Barclays upgrade, while Fair Isaac fell roughly 14% after a Wells Fargo downgrade. Overnight, Japan's Nikkei jumped +1.7% and South Korea's Kospi about +3.5% on chip strength and a better-than-expected Korean GDP report, while Shanghai and Hong Kong slipped. Europe opened lower, led by London, after HSBC's revenue fell short of estimates.