Stock Market Today: Dow Drops As Fed's Powell Notes Economic 'Shocks' (Live Coverage)

Market Overview - Dow Jones futures increased by 0.2%, S&P 500 futures also rose by 0.2%, and Nasdaq 100 futures were up by 0.3% ahead of the market opening [2] - The 10-year Treasury yield decreased to 4.19%, while oil prices fell to approximately $94.90 per barrel [2] - Bitcoin's value dropped to around $72,900 [2] Company-Specific News - Rocket Lab's stock fell nearly 4% in premarket trading after announcing a $1 billion stock offering, despite a previous surge of over 10% [5] - General Mills' shares declined by more than 1%, while Jabil's stock increased by over 1%. Macy's stock saw a significant rise of nearly 9%, and Oklo shares gained more than 1% in premarket trading [6] - Micron Technology is scheduled to report earnings after the market closes, with its shares climbing nearly 2% in early morning trading [6] Economic Indicators - The Labor Department's producer price index (PPI), a measure of wholesale inflation, is expected to rise by 0.3% for February [7] - The Federal Reserve's two-day policy meeting is concluding with an interest rate decision expected at 2 p.m. ET, followed by a press conference with Fed Chair Jerome Powell at 2:30 p.m. ET [7] - December's Fed projections anticipated only one rate cut in 2026, with new data likely to maintain this outlook [8]