US futures tread water in countdown to rate call
Published On Sep 16, 2024, 7:02 AM
Stocks exhibited mixed performance, with the tech-heavy Nasdaq Composite seeing a decline of around 0.5%, while the Dow Jones Industrial Average reached a record high driven by a 6% surge in Intel stock. Investors are anxiously awaiting the Federal Reserve's decision on interest rate cuts this week, with expectations for a significant cut for the first time in four years. Apple shares dropped by approximately 3% due to concerns about weaker-than-expected demand for the iPhone 16. The outlook also includes a potential for a hiring freeze at Boeing amid a major strike affecting thousands of its workers.