JakeNovakNews.com
STOCKS/ECONOMY
-Stock futures are lower after Tuesday's 34-point gain for the Dow and slightly higher percentage gains for the S&P 500 and the Nasdaq. The main focus today is on the Fed decision coming out this afternoon.
-Ahead of that decision, the yield on the 10-year Treasury bond is down to 1.77 percent, with the 2-year yield at 1.71 percent. The Fed is expected to cut interest rates by a quarter of a point.
-Gold is flat this morning and at the $1,508 per ounce level. Bitcoin is at the $10,200 level.
FEDEX FUMBLE
-FedEx shares are down almost 12 percent in the premarket after the shipping company posted a disappointing earnings report after the bell. FedEx is seeing ill effects of losing Amazon as a customer and suffering from the trade uncertainty.
OIL/ENERGY
-U.S. crude prices are down about 0.5 percent and at the $58 a barrel level as concerns continue to ease over Saudi oil supply. Saudi Arabia's oil minister says half of the nation's damaged oil production has been restored and that it will be back to 100% by the end of the month.
-Gasoline prices surged six cents per gallon overnight to $2.65 a gallon, national average.
GM STRIKE
-The White House is reportedly working to help end the UAW strike against GM, now in its third day. The move would effectively put the Trump administration more on the side of the union workers.
MORTGAGE DEMAND
-Mortgage demand from new home buyers jumped by 15 percent compared to last year, even as refinancing demand dropped sharply. The move may be the result of potential buyers worrying that rates are about to go higher.
CONTENT WARS
-Google and Facebook are making concessions to traditional news publishers in an apparent effort to hold off antitrust charges. The concessions include changing the way they rank news stories to promote original content.
MILLENNIAL MAYHEM
-A new report says the average Millennial American has $27,900 in debt.
ARMY RECRUITING
-The U.S. Army fell short of its recruiting targets last year, mostly due to a tighter labor market and what the army says is a problem connecting with younger people.