S&P Futures Tick Higher Ahead of FOMC Meeting and U.S. Retail Sales Data

Federal Reserve Actions - The Federal Reserve is expected to cut the Fed funds rate by 25 basis points to a range of 4.00% to 4.25% during its two-day meeting [3] - Investors are anticipating follow-up rate cuts in October and December, influenced by recent data indicating a slowing labor market [3] - The Fed's quarterly "dot plot" will provide guidance on the expected interest-rate path over the next few years [3] Economic Indicators - The Empire State manufacturing index fell to a 3-month low of -8.70 in September, significantly below expectations of 4.30 [4] - U.S. Retail Sales are forecasted to show a +0.2% month-over-month increase in August, following a +0.5% increase in July [6] - Core Retail Sales are expected to rise +0.4% month-over-month in August, compared to a +0.3% increase in July [7] Stock Market Movements - Wall Street's main stock indexes closed higher, with the S&P 500 and Nasdaq 100 reaching new record highs [5] - Seagate Technology (STX) rose over +7% after Bank of America raised its price target from $170 to $215 [5] - Tesla (TSLA) increased over +3% following CEO Elon Musk's purchase of approximately $1 billion worth of shares [5] International Economic Data - The U.K. unemployment rate remained unchanged at 4.7% for the three months to July, aligning with expectations [11] - Italy's annual inflation rate eased to 1.6% in August from 1.7% in July [10] - The German ZEW Economic Sentiment Index for September came in at 37.3, exceeding expectations of 25.3 [12]