10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, FB, TSLA, MSFT, DB)
Here is what you need to know.
The Fed says it’ll be patient on future rate hikes. The Federal Open Market Committee held its key interest rate in a range between 2.25% and 2.5% on Wednesday, and in his press conference following the decision, Federal Reserve Chairman Jerome Powell said he didn’t know whether the next move would be an interest-rate hike or cut.
Italy has officially entered a recession. Europe’s fourth-largest economy contracted 0.2% in the fourth quarter, after shrinking 0.1% in the third quarter, according to data released Thursday by the statistics agency Istat.
Facebook soars after crushing earnings. Facebook shares climbed 12% in after-hours trading Wednesday after the social-media company delivered top- and bottom-line results that were well above Wall Street estimates.
Earnings reports keep coming. Altria, Ferrari, General Electric, MasterCard, and UPS are among the names reporting ahead of the opening bell, while Amazon announces its quarterly results after markets close.
US economic data is heavy. Initial claims will be released at 8:30 a.m. ET before Chicago PMI and new-home sales cross the wires at 9:45 a.m. ET and 10 a.m. ET. Data is set to conclude at 4 p.m. ET with net long-term TIC flows. The US 10-year yield is down 1.4 basis points at 2.66%