Stock market today: Live updates

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Stock market today: Live updates

Traders work on the floor of the New York Stock Exchange on April 29, 2025.

NYSE

Stock futures advanced Tuesday night as investors looked toward the Federal Reserve interest rate announcement expected Wednesday afternoon.

Dow Jones Industrial Average futures added 306 points points, or 0.8%. S&P 500 futures popped 0.9%, while Nasdaq 100 futures rallied 1.1%.

Advanced Micro Devices jumped nearly 5% on a stronger-than-expected earnings report. Rivian ticked nearly 2% lower after the electric vehicle maker slashed its 2025 delivery target.

Those moves following a losing day on Wall Street. The Dow lost nearly 390 points, or 1%. The S&P 500 and Nasdaq Composite slid about 0.8% and 0.9%, respectively.

Investors are gearing up for the Fed’s interest rate decision slated for 2 p.m. ET. Fed funds futures are pricing in a nearly

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that the central bank holds the borrowing rate steady, according to CME’s FedWatch tool.

Traders will closely monitor Fed Chair Jerome Powell’s post-decision press conference for insights into the path of rates and state of the economy. It comes at a precarious moment for the central bank leader after being the target of criticism from President Donald Trump, who has said his “termination cannot come fast enough.” At one point, White House economic advisor Kevin Hassett said the team would “study” whether Powell could be fired, though Trump later said he has “no intention” of removing the Fed chief.

The Fed meeting also comes as market participants contend with concerns that Trump’s plan for tariffs could push inflation higher, complicating the central bank’s plan for interest rates. Recent turbulence in financial markets and growing fears of the U.S. economy tipping into a recession have heightened worries for investors.

“If traders wish to believe that the Fed will come to the rescue of the world tomorrow and assuage the recent rise in policy uncertainty and political uncertainty with a signal of overt ‘dovishness’, they should think again,” said Thierry Wizman, global foreign exchange and rates strategist at Macquarie.

Market participants will also follow consumer credit data due on Wednesday. Elsewhere, they’ll analyze corporate earnings reports expected from firms including Disney, Carvana and Uber.

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