Manage episode 295128692 series 2917102
U.S. stock futures were flat ahead of today’s conclusion of the Federal Reserve’s two-day meeting.
Here's what is happening in the markets today, Wednesday, June 16th.
No policy changes are expected. But investors want to know whether the Fed still thinks rising inflation is transitory and whether they will taper their massive bond-buying program or raise interest rates sooner than expected. The central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.
This morning, housing starts, and building permits for May will be released. Economists expect a 3.9% increase in new construction. Housing starts tumbled 9.5% in April
Roblox (RBLX) tumbled 7.7% in the premarket after it reported 43 million daily active users for May, up 28% compared to a year earlier but down from 43.3 million in April. Spending by users of the videogame platform was down slightly from a year earlier.
Southwest Airlines (LUV) suffered its second computer glitch in 24 hours yesterday. The system outage caused the cancellation of about 500 flights and delaying many others.
Hindenburg strikes again: DraftKings (DKNG) stock fell 4.2% yesterday after Hindenburg Research said it has a short position in the sports gambling company.
This wraps up today's stock market news.
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