Stock futures slipped Tuesday evening as investors looked ahead to the Federal Reserve's Wednesday meeting.
The moves come after stocks jumped to end January on a strong note. The Dow Jones Industrial Average ended the day nearly 369 points higher, rising by 1.09%. The S&P 500 gained 1.46% to cap its best January performance since 2019. The tech-heavy Nasdaq Composite rose 1.67%, its best January performance in 22 years.
Still, traders may be getting ahead of themselves in expecting a more dovish tone from the Fed, or looking for signs that a pause in hikes or even a pivot is coming soon. The Federal Reserve will announce its decision Wednesday afternoon, followed by Chairman Jerome Powell's comments.
Source: News Formal (newsformal.com)
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