FX.co ★ US Futures Drift Ahead of Fed Meeting

US stock index futures were flat to slightly lower on Tuesday as investors looked ahead to the Federal Reserve’s first policy meeting under its new chair, Kevin Warsh, with the central bank widely expected to leave interest rates unchanged. Markets also remained focused on geopolitics amid expectations that the US and Iran will sign a peace agreement in Switzerland on Friday, a development that could pave the way for reopening the Strait of Hormuz.

In Monday’s cash session, the Dow Jones Industrial Average gained 0.92%, the S&P 500 rose 1.65%, and the Nasdaq Composite jumped 3.07%. Seven of the S&P 500’s 11 sectors finished higher, led by technology, communication services, and consumer discretionary names. Risk sentiment was supported by President Donald Trump’s announcement that the US and Iran had reached an agreement to end the war in the Middle East.