Stock market today: Dow poised to build on record as US futures rise ahead of Fed

Published On Sep 17, 2024, 7:00 AM

U.S. stock futures are showing positive movement today as investors prepare for the Federal Reserve's upcoming monetary policy meeting. Dow Jones futures are up approximately 0.2%, following a record-high close, while S&P 500 and Nasdaq 100 futures are also climbing. Increased expectations for a potential significant rate cut from the Fed, as well as a reading on retail sales later today, are driving optimism. Notably, Intel's stock surged after securing Amazon as a multibillion-dollar AI chip customer, and Microsoft is making headlines with its major $60 billion share buyback announcement.

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Stock Forecasts

SPYView SPY chart on TradingView

Positive

Given the positive momentum in the futures market and the likelihood of an interest rate cut by the Fed, which typically encourages stock market gains, investors might consider bullish positions.

INTCView INTC chart on TradingView

Positive

Intel's gains from securing Amazon and the overall tech sector's response to favorable earnings news suggest potential upside for tech stocks, especially Intel as it might keep rallying from its recent news.

MSFTView MSFT chart on TradingView

Positive

Microsoft's large share buyback and dividend increase will likely positively impact its stock in the short term, as companies engaging in share buybacks are typically seen as returning value to shareholders.

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