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Stock Futures Today
Futures for the Dow Jones Industrial Average today (Monday, Sept. 14) forecast a 24-point decline as investors look toward this week's critical FOMC meeting. This week, the U.S. central bank will decide whether it will raise interest rates for the first time since 2006, a decision that isn't being taken lightly by investors.
On Friday, the Dow added another 102 points, while the S&P 500 completed its largest weekly gain since July. The S&P 500 was fueled by Gilead Sciences Inc. (Nasdaq: GILD), which added nearly 2% today on news the company completed its $10 billion debt offering. Traders are speculating the biotech giant is poised to make a big acquisition in the coming weeks. Meanwhile, shares of Shake Shack Inc. (NYSE: SHAK) gained more than 13% after receiving a series of upgrades.
Top News in the Stock Market Today
- The Stock Market Today: A light economic calendar in the U.S. hits the markets on Monday, but traders are not going to be lulled to sleep. Investors are keeping a tight eye for any clues related to the critical FOMC meeting in which the U.S. central bank will decide whether to raise interest rates for the first time in nearly a decade.
- Oil Outlook: Oil prices as concerns about the Chinese economy rattled investors again. A new round of data suggested that the country is running below its target growth rate of 7%. This morning, WTI prices were off roughly 0.6% to reach $44.37. Meanwhile, Brent oil prices declined about 1.3% to $47.48 per barrel. Meanwhile, OPEC slashed its supply forecast for non-member suppliers, a sign the ongoing price decline is affecting shale producers across the United States. Last week, Goldman Sachs Group Inc. (NYSE: GS) predicted oil prices could fall as low as $20 due to oversupply concerns and falling global demand.
- Earnings Reports: Companies reporting quarterly earnings include Hanger Orthopedic Group Inc. (NYSE: HGR) and Energy XXI Ltd. (NYSE: EXXI).