Wall Street bounced between small gains and losses in trading early Wednesday ahead of hints from Federal Reserve officials about the U.S. central bank’s future interest rate decisions, according to the Associated Press. Futures for the S&P 500 rose 0.2% before the bell, while futures for the Dow Jones Industrial Average were flat. Futures for the tech-heavy Nasdaq rose 0.4%.
Investors and economists will be paying close attention to a public appearance by three Fed officials Wednesday, Fed governor Christopher Waller and Philip Jefferson, the Fed’s vice chair and a top lieutenant to Jerome Powell, followed by a speech by Powell himself at a conference in Washington on Thursday.
American Eagle Outfitters became the latest retailer to withdraw its financial guidance for 2025 late Tuesday, and its shares tumbled more than 14% before the opening bell Wednesday. The retailer said it would write down $75 million in spring and summer merchandise and that it expects first-quarter revenue to slide 5%, or more than $1 billion.
Benchmark U.S. crude fell 77 cents to $62.90 per barrel following a four-day rally. Brent crude, the international standard, declined 75 cents to $65.88 per barrel.
The U.S. dollar edged down to 146.02 Japanese yen from 147.21 yen.
