Stock Market Today: S&P 500, Nasdaq 100 Futures Gain Ahead of Federal Reserve Interest Rate Decision

U.S. stock futures were mixed on Wednesday, as the Dow Jones, S&P 500, and Nasdaq 100 index futures moved in different directions following Tuesday's higher close. Investors will watch the Federal Reserve Open Market Committee's interest rate decision and the Monetary Policy Report later today, with the FOMC press conference scheduled at 2.30 p.m. Eastern Time. The U.S. military has spent over $47 billion so far to prosecute the war in Iran, according to Pentagon data obtained by Reuters, compared with Defense Secretary Pete Hegseth's July estimate of $37.5 billion. Meanwhile, the 10-year Treasury bond yielded 5.01 percent, and the two-year Treasury bond yielded 4.75 percent at the last check. The CME Group's FedWatch tool projections show markets pricing in a 90.6% likelihood of interest rates being unchanged. The SPDR S&P 500 ETF Trust, the Invesco QQQ Trust ETF, and the SPDR Dow Jones Industrial Average ETF Trust were mixed in pre-market trading on Wednesday. The SPY was up 0.10% at $770.46. The QQQ advanced 0.39% to $724.04, and the DIA fell 0.18% to $522.36. Stocks in focus for today are Visa was 1.63% lower in pre-market trading on Wednesday after reporting fourth quarter 2026 earnings of $3.48 per share on revenue of $12.14 billion, beating estimates. UBS Group was 2.54% lower in pre-market trading on Wednesday after reporting third-quarter 2026 earnings of $0.85 per share on revenue of $13.35 billion, missing estimates. SK Hynix was 7.55% higher in pre-market trading on Wednesday after the company reported revenue of $78.23 billion, an operating profit of $62.32 billion, an operating margin of 80%. Seagate Technology Holdings was 3.64% lower in pre-market trading on Wednesday, despite beating first quarter 2027 estimates with earnings of $7.68 per share on revenue of $4.23 billion. Alphabet was 1.18% higher in pre-market trading on Wednesday, as analysts expect third-quarter 2026 earnings of $3.02 per share on revenue of $128.18 billion after the closing bell. Thank you for watching and make sure to subscribe!