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FOMC Meeting Begins, Record Highs Continue
Tom White
September 16, 2025
U.S. stock futures are slightly higher ahead of the Wall Street open as equities extend Monday’s gains.
The S&P 500 (SPX) and Nasdaq-100 (NDX) settled at more record highs yesterday after positive comments on the U.S. – China trade negotiations.
Investors are focused on the start of the FOMC meeting today, with an interest rate decision on Wednesday. Fed funds futures are pricing in a 100% likelihood of at least a quarter-point rate cut, per CME’s FedWatch tool.
Traders will also focus on the data dump this morning with numbers due on Retail Sales, Import/Export prices and the Housing Market Index.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are up 0.7% near $63.70 a barrel as investors assessed the impact of Ukrainian drone attacks on Russian refineries, while U.S. President Donald Trump said he was prepared to impose sanctions on Russia if NATO nations stop buying Russian oil.
Gold (/GC) – Gold futures are up 0.4% near $3730 and is at another all-time high, underpinned by a softer dollar and lower Treasury yields, as investors positioned ahead of a pivotal Federal Reserve meeting this week that could set the tone for the rest of the year.
Bitcoin (/BTC) – The Crypto Future is relatively flat near 115,600 in premarket trading.
VIX – The CBOE Volatility Index was up 6.3% on Monday and settled at 15.69 despite stocks finishing higher.
U.S. Dollar (/DX) – The dollar is down 0.3% to 96.6.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
ORCL | Oracle | +5.26% |
HSY | Hershey | +2.66% |
PLD | Prologis | +1.54% |
TTD | The Trade Desk | -2.11% |
DDOG | Datadog | -1.55% |
WBD | Warner Bros. Discovery | -1.23% |
Economic Data
Time | Event |
|---|---|
All Day | FOMC Meeting Begins |
8:30AM ET | Retail Sales Import & Export Prices |
9:15AM ET | Industrial Production |
10:00AM ET | Housing Market Index Business Inventories |
1:00PM ET | 20-Year Bond Auction |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
FERG | None | GIS, MANU | CBRL |
Upgrades/Downgrades
Citizens JMP upgrades CoreWeave (CRWV) to Outperform from Market Perform
Goldman Sachs upgrades Hershey (HSY) to Buy from Sell
Loop Capital upgrades Union Pacific (UNP) to Hold from Sell
Rothschild & Co Redburn downgrades Live Nation (LYV) to Neutral from Buy
Stifel downgrades VF Corp. (VFC) to Hold from Buy
TD Cowen downgrades Warner Bros. Disney (WBD) to Hold from Buy
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