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Summary
US stock futures were mixed before the Fed's 2 p.m. ET decision, with Dow futures down 0.3% and Nasdaq 100 futures up 0.3%, per Yahoo Finance.
Markets expect a hold at 3.75% to 4.00% after September's quarter-point hike, and FX Leaders said Chair Kevin Warsh's press conference will carry the most weight.
Gold hovered near $4,000, per FX Leaders, and the Fed's next meeting is December 8-9.
Gotrade News - US stock futures were mixed early Wednesday ahead of the Federal Reserve's 2 p.m. ET rate decision, with Dow futures down 0.3% and Nasdaq 100 futures up 0.3%, according to Yahoo Finance, which said the Fed is expected to hold rates steady. Gold hovered near $4,000, per FX Leaders.
FX Leaders said Chair Kevin Warsh's press conference, set for 18:30 GMT (2:30 p.m. ET), will carry the most weight, as traders look for a signal on whether the Fed follows September's increase with a December hike.
Fed Rate Path: Two Holds, Then a September Hike
According to the Federal Reserve's FOMC statements of June 17, July 29 and September 16, the Committee held the federal funds target range at 3.50% to 3.75% at the first two meetings, then raised it by a quarter point to 3.75% to 4.00%.
The July hold drew three dissents, from Beth M. Hammack, Neel Kashkari and Lorie K. Logan, who preferred a hike, while the September increase passed 12-0 with the statement saying, "Inflation remains elevated."
The table lists those decisions from the Fed's statements, with the October odds as reported by FX Leaders.
FOMC meeting
Decision
Target range
Vote
June 17, 2026
Hold
3.50% to 3.75%
12-0
July 29, 2026
Hold
3.50% to 3.75%
9-3 (three preferred a hike)
September 16, 2026
Raise by 0.25 point
3.75% to 4.00%
12-0
October 28, 2026
Due 2 p.m. ET; hold expected, about 10% odds of a hike (traders, per FX Leaders)
3.75% to 4.00% (current)
Pending
Futures Mixed After Nasdaq's 1.2% Gain
On Tuesday, the S&P 500 rose 45.83 points, or 0.6%, to 7,722.60, and the Nasdaq Composite climbed 308.43 points, or 1.2%, to 26,477.81, according to AP.
The Dow added 15.99 points to 52,377.57. AP said AI stocks led the gains, with Broadcom rising after a financing deal that gives Anthropic access to its AI chips, even though most S&P 500 stocks fell.
Treasury yields were relatively steady a day before the Fed's decision, AP reported. After Wednesday's close, Microsoft and Alphabet report quarterly results, according to Yahoo Finance, which noted that Microsoft offered voluntary buyouts to up to 60,000 employees.
Regular-session close on October 27, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com.
Gold Holds Near $4,000 as Oil Eases
Spot gold, the metal behind SPDR Gold Shares (GLD), traded near $4,003 in Asian trading on Tuesday, down about 0.2%, after rebounding above $4,000 on Monday, according to FX Leaders.
FX Leaders tied Monday's rebound to easing oil prices linked to Gulf diplomacy, with Brent settling at $115.81, down 0.8%, and said a firmer dollar before the meeting weighed on the metal. Lower oil eases inflation fears, the outlet noted, while Houthi attacks and threats to Gulf energy sites could push oil and Fed hike bets back up.
What Does the Fed Decision Mean for Stocks?
For stocks, the decision itself is widely expected to be a hold, so FX Leaders said Warsh's press conference will carry the most weight, with traders putting the chance of a hike this week at about 10%.
FX Leaders, citing Reuters, said CME FedWatch showed about a 75% chance of a December hike as of Monday, and noted that this is not a projections meeting, so no new dot plot will be released.
When Is the Next FOMC Meeting?
The next FOMC meeting is scheduled for December 8-9, 2026, according to the Federal Reserve's meeting calendar, and it is one of the meetings paired with a Summary of Economic Projections.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
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M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
Hendrie Saputra holds a Master of Business Administration (MBA) with a concentration in Business Risk & Finance, along with professional experience in finance, marketing, and project management. He is experienced in analyzing market data and developing research-driven business strategies.
