Futures and crude oil are lower.
On Wednesday morning, Dow futures dropped by more than 100 points, S&P 500 futures were down about 10, and Nasdaq futures were down 31 — all declines by less than 1%.
A few key stocks were dragging down the blue-chip Dow after earnings.
Apple shares were about 4% lower pre-market, after the company forecast a sales decline for the first time in over a decade when it reported results on Tuesday.
And, Boeing shares fell about 7% after the company put out a projection for 2016 sales that was smaller than analysts had forecast.
Crude oil prices started descending towards $30 per barrel again, with West Texas Intermediate crude futures in New York falling nearly 3% to as low as $30.15 per barrel.
Yesterday evening, the American Petroleum Institute reported the biggest weekly build in US oil inventories we’ve seen in nine months, by 11.4 million barrels. The Energy Information Administration will put out its own data later this morning.
Also, new home sales numbers are on deck at 10 a.m. ET.
And then at 2 p.m. ET, the Federal Reserve will release its policy statement. The FOMC is not expected to raise interest rates, with markets pricing in a 0% chance of a hike today.
This means the focus will be on the wording of the statement: what the Fed thinks of the economy, and clues on how it would move forward with rate hikes.
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