Here's how stocks are trading ahead of the Federal Reserve's Wednesday meeting.
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.
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