The broad market exchange-traded fund SPDR S&P 500 ETF Trust SPY was up 0.3% and the actively traded Invesco QQQ Trust QQQ was 0.4% higher in Wednesday’s premarket activity as investors awaited the Federal Reserve’s policy rate decision.
US stock futures also edged higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.3% before the start of regular trading.
US mortgage applications fell 6.2% in the week ended March 14 as rising rates drove a 13% drop in refinancing, while new purchase applications were little changed, Mortgage Bankers Association data showed Wednesday.
The Atlanta Fed Business Inflation Expectations report for March will be released at 10 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am ET.
The Fed is slated to announce its latest monetary policy decision at 2 pm…
