US Morning News Call | FOMC Rate Decision Looms

Moomoo Breakfast US joined discussion · Sep 17 20:01

Before the Bell

On Wednesday, stock futures remained relatively stable as traders braced for a highly anticipated monetary policy decision and an even more crucial policy outlook from the Federal Reserve.

Futures tied to the $E-mini S&P 500 Futures (DEC5) (ESmain.US)$ fell 0.04%. $E-mini NASDAQ 100 Futures (DEC5) (NQmain.US)$ went down by 0.06%, and $E-mini Dow Futures (DEC5) (YMmain.US)$ went up 27 points, or 0.06%.

Top News

US and China Finalize TikTok Ownership Deal; Oracle, Silver Lake, Andreessen Horowitz to Control 80%

Details have emerged regarding the TikTok ownership deal between Washington and Beijing. A new U.S. entity will manage the application, with $Oracle (ORCL.US)$ , Silver Lake, and Andreessen Horowitz controlling 80% of TikTok's U.S. operations. ByteDance's Chinese shareholders will retain less than a 20% stake. The app's algorithm will be licensed from ByteDance, and data will be processed by Oracle in Texas.

The White House has issued an order further extending the TikTok enforcement delay until December 16, 2025.

UK Pauses Push for 0% Tariff on Steel Exports to US

According to the Financial Times, the United Kingdom has dropped its plans to secure zero-tariff exports for steel to the United States.

Microsoft to Invest Over $30 Billion in UK for Data Centers and Supercomputers

$Microsoft (MSFT.US)$ announced plans to invest £22 billion (approximately $30 billion USD) in the United Kingdom over the next four years. This investment, separate from the OpenAI Stargate project, will be directed towards data center infrastructure, including the construction of the UK's largest supercomputer, as well as investments in its London AI lab, gaming, and other operations.

Alibaba Accelerates AI Chip Effort with Major Client China Unicom

$Alibaba (BABA.US)$ secured China Unicom as a major customer for its AI chips, with the telecom company set to use Alibaba's AI accelerators in a new data center project.

Crypto News

$Bitcoin (BTC.CC)$went down 0.46%, to $116,313; $Ethereum (ETH.CC)$ went down 0.7%, to $4,488.

US and UK to Deepen Crypto Collaboration

The U.S. and the UK are set to deepen their collaboration on cryptocurrency oversight, according to reports from the Financial Times.

Binance in Talks with DOJ Over Dropping Independent Compliance Monitor

Bloomberg reports that Binance is in discussions with the U.S. Department of Justice (DOJ) regarding the potential removal of an independent compliance monitor. This monitor was imposed as part of Binance's 2023 plea deal with the DOJ concerning money-laundering and sanctions violations.

Market Events

Key Economic Events

08:30 AM Building Permits Prel

08:30 AM Housing Starts

02:00 PM Fed Interest Rate Decision

02:00 PM FOMC Economic Projections

02:30 PM Fed Press Conference

Key Earnings

After Market

The market expects $Bullish (BLSH.US)$ to report revenue of $55.75 million and EPS of $0.415.

Before Market

The market anticipates $General Mills (GIS.US)$ revenue of $4.52 billion, down 6.87% YOY, with EPS at $0.847, a 17.8% YOY decrease.