Fed decision looms, futures slip, AMD reports - what's moving markets
Investing.com -- Attention is fixed on the Federal Reserve's interest rate announcement on Wednesday, with investors expecting the central bank to keep borrowing costs steady. Comments from Fed Chair Jerome Powell will be in the spotlight following the decision as markets attempt to gauge where officials see policy heading in the future. Elsewhere, Advanced Micro Devices read 49.5 in October, missing expectations of 50.8 and falling from the 50.6 seen in the prior month.
The weak figure was driven chiefly by softening domestic and overseas demand, while growth in new orders slowed for a second straight month. Export orders continued to decline amid worsening economic conditions in China’s biggest trading partners.Oil prices crept up on Wednesday in cautious trading ahead of the conclusion of the latest Fed meeting, with markets also closely watching developments in the Israel-Hamas conflict.contract climbed 1.3% to $86.14.
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