U.S INDEX MARKET
The U.S. Dollar Index is trading at 93.77 with a loss of –0.06% percent or -0.06 point. The Dow Futures is trading at 25,348.00 up with +0.13% percent or +33.00 point. The S&P 500 Futures is trading at 2,792.50 up with +0.15% percent or +4.25 point. The Nasdaq Futures is trading at 7,245.50 up with +0.27% percent or +19.25 point.
TODAY’S FACTORS AND EVENTS
The dollar edged up against the euro and hit a three-week high versus the yen on Wednesday ahead of a Federal Reserve policy announcement that investors will scan for clues on how many more U.S. rate hikes there will be this year.
The Fed concludes its two-day policy meeting later on Wednesday and is widely expected to hike rates for the second time this year.
Reports that Fed Chair Jerome Powell was considering holding a news conference and taking questions after every Fed meeting also supported the dollar as it raised expectations that the Fed could hike rates more often. The central bank currently holds a news conference after every other meeting.
PREVIOUS DAY ACTIVITY
Other leading market index closes included the small-cap Russell 2000 Index closed at 1,682.30 up with +0.46% percent or +7.62 point; the S&P 600 Small-Cap Index closed at 1,041.95 up with +0.084% percent or +0.87 point; the S&P 400 Mid-Cap Index closed at 2,003.97 up with +0.15% percent or +3.07 9point; the S&P 100 Index closed at 1,223.67 up with +0.10% percent or +1.24 point; the Russell 3000 Index closed at 1,660.03 up with +0.22% percent or +3.61 point; the Russell 1000 Index closed at 1,548.46 up with +0.20% percent or +3.05 point;