| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
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| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
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| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
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(Editor’s note: The future prices of benchmark tracking ETFs, the earnings, and the headline were updated in the story.)
U.S. stock futures were steady on Wednesday after Tuesday’s declines. Futures of major benchmark indices were higher.
Investors await Nvidia Corp.'s (NASDAQ:NVDA) highly anticipated earnings report on Wednesday. Meanwhile, the minutes of the Fed’s October FOMC meeting will also be released later today.
The 10-year Treasury bond yielded 4.12% and the two-year bond was at 3.58%. The CME Group's FedWatch tool‘s projections show markets pricing a 46.6% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.
| Futures | Change (+/-) |
| Dow Jones | 0.09% |
| S&P 500 | 0.23% |
| Nasdaq 100 | 0.24% |
| Russell 2000 | 0.32% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Wednesday. The SPY was up 0.40% at $662.69, while the QQQ advanced 0.35% to $599.33, according to Benzinga Pro data.
While energy, health care, and real estate stocks recorded the strongest gains on Tuesday, consumer discretionary and information technology closed the session lower. Although most S&P 500 sectors finished positively.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | -1.21% | 22,432.85 |
| S&P 500 | -0.83% | 6,617.32 |
| Dow Jones | -1.07% | 46,091.74 |
| Russell 2000 | 0.31% | 2,348.74 |
Professor Jeremy Siegel maintains a constructive long-term view on the economy and the stock market, asserting that the “macro still argues for resilience rather than recession”.
Despite recent volatility, he does not believe the market has entered a bear cycle, though he remains critical of the Federal Reserve’s “misguided” hawkishness regarding inflation drivers that are unresponsive to interest rates.
He anticipates the Fed will shift to a “clearer easing bias into Q1” if economic activity continues to cool.
Looking forward, Siegel advises caution regarding high valuations in the U.S. tech sector, warning investors that they “should not bank on further multiple expansion doing the work”.
Instead, he suggests “selective quality-value tilts” and highlights international opportunities in Japan and Europe, where valuations are significantly cheaper than in the U.S.
Ultimately, Siegel views the consumer as the “fulcrum” for near-term performance; while he acknowledges a “textbook 5-10% correction is in play” if consumer resilience fades, he affirms he would “be a buyer into that magnitude of weakness”.
See Also: How to Trade Futures
Here's what investors will be keeping an eye on Wednesday;
Crude oil futures were trading lower in the early New York session by 0.46% to hover around $60.39 per barrel.
Gold Spot US Dollar rose 0.88% to hover around $4,103.63 per ounce. Its last record high stood at $4,381.6 per ounce. The U.S. Dollar Index spot was 0.15% higher at the 99.6960 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.10% higher at $91,283.92 per coin.
Asian markets closed lower on Wednesday, except China’s CSI 300 and India’s NIFTY 50 indices. Hong Kong's Hang Seng, Japan's Nikkei 225, Australia's ASX 200, and South Korea's Kospi indices fell. European markets were also lower in early trade.
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