Wall Street mixed Tuesday, with the S&P 500 up 0.2% and the Nasdaq 0.3% on a chip stock rally. The Dow Jones slipped 44 points, or 0.1%, as traders hedged ahead of the Fed.
The bond market is flashing warnings. The 10-year Treasury yield rose over 1 basis point to 5.003%, and the 30-year hit 5.316%. The 2-year note jumped 3 basis points to 4.741%, reflecting heightened sensitivity to the upcoming rate decision.
Oil prices are volatile. Brent traded near $115 a barrel, down almost 1% from the previous session, while West Texas Intermediate hovered around $101. Senior officials from Saudi Arabia, Pakistan, and Turkey traveled to Tehran for de-escalation talks, adding a geopolitical layer to the price action.
The Federal Reserve announces its rate decision at 11:30 pm IST Wednesday. Chair Kevin Warsh’s press conference follows at 12:00 am IST Thursday. Markets are watching for signals on a potential December rate hike.
On the corporate front, Hindustan Unilever, Adani Ports, and Adani Enterprises report Q2 results Wednesday. India’s September IIP data also drops at 4:00 pm IST, following August’s 8% year-on-year growth in industrial production.
In corporate drama, TVS Motor’s Venu Srinivasan, his wife Mallika, and their children have filed caveats in two Chennai courts. The filings, reviewed by CNBC-TV18, suggest preparation for litigation over family wealth division. Meanwhile, Larsen & Toubro and Bajaj Auto posted YoY growth in revenue and profit, while Maruti Suzuki’s net profit fell 26% despite a 26% revenue jump.