Market Overview - US stock futures remained stable as Wall Street awaited the Federal Reserve's final policy decision of the year, with Dow Jones Industrial Average futures slightly declining and S&P 500 and Nasdaq 100 futures holding steady [1] - Investors are cautious, with a nearly 90% probability priced in for a third consecutive quarter-point rate cut by the Federal Reserve [2] Federal Reserve Policy Decision - The Federal Open Market Committee (FOMC) is divided, with some members advocating for easier policy to support a cooling labor market, while others caution that further easing could reignite inflation [3] - Traders are focused on the post-meeting statement and Chair Jerome Powell's press conference for insights on future policy direction [3] Company Performance - GameStop (GME) shares fell 6% in premarket trading after reporting third-quarter revenue of $821 million, which was below the expected $987 million [6][7] - Despite the revenue decline, GameStop reported diluted profits of $0.24 per share, exceeding estimates of $0.20 [7] - GameStop's bitcoin holdings were valued at $519.4 million at the end of the quarter, down from $528.6 million in the previous quarter [8] GE Vernova Performance - GE Vernova (GEV) shares rose 6% in premarket trading after the company doubled its dividend, indicating strong demand for natural gas-fired power [9]
Stock market today: Dow, S&P 500, Nasdaq futures waver with Fed rate decision on deck