Stocks Decline Pre-Bell Ahead of Fed Meeting Minutes
MT newswire2026/10/07 11:4907:49 AM EDT, 10/07/2026 (MT Newswires) -- The main US stock measures pointed lower in Wednesday's premarket activity as traders await minutes from the Federal Reserve's last policy meeting. The S&P 500 edged down 0.1%, the Dow Jones Industrial Average declined 0.3%, and the Nasdaq 100 was off 0.4%. The S&P 500 and the Nasdaq Composite finished Tuesday trading with record highs, while the Dow extended its rally for a fourth consecutive session. The Fed is scheduled to post minutes of its September policy meeting at 2 pm ET, which will be assessed for fresh insight on the central bank's monetary policy trajectory. At that meeting, the central bank raised interest rates by 25 basis points, its first hike in just over three years, to combat inflation that has run persistently above its 2% target. Markets are currently pricing in an 81% probability that the central bank will keep its benchmark rate steady later this month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool. Treasury yields were trending upwards early Wednesday, with the two-year rate rising 1.7 basis points to 4.81% and the 10-year rate adding 5.5 basis points to 5.33%. Wednesday's economic calendar also has the weekly mortgage applications bulletin followed by the weekly EIA domestic petroleum inventories report. West Texas Intermediate crude oil inclined 0.7% to $90.03 a barrel, while Brent advanced 1.4% to $101.93. About 20 commercial ships, mostly tankers, were attacked over the past month while sailing through the crucial Strait of Hormuz, the Persian Gulf, or off the coast of Oman, CNBC reported Tuesday, citing the Joint Maritime Information Center. Saudi Arabia's energy minister, Prince Abdulaziz bin Salman, said Tuesday that the Kingdom's East-West pipeline has increased crude flows to 5.8 million barrels per day, according to Reuters. Shares of Constellation Brands (STZ) fell 5.2% pre-bell as the beer and wine company reiterated its full-year adjusted earnings outlook. Penguin Solutions (PENG) jumpe
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