US stocks closed lower on Tuesday, with the Nasdaq Composite falling on a gain of more than 100 points Meta Platforms, Inc. META and Amazon.com, Inc. AMZN shares.
Let’s take a look at the major economic events scheduled for today.
- The MBA index of mortgage Application activity for the last week is scheduled to be published at 7:00 am ET.
- Existing Home Sales data for August will be released at 10:00 am ET. US existing home sales, which have been falling every month since February, are expected to arrive at an annualized rate of 4.70 in August, compared to 4.81 million in the previous month.
- The Energy Information Administration’s weekly report on US petroleum stocks is scheduled for release at 10:30 am ET.
- The Federal Reserve will announce its monetary policy decision at 2:00 p.m. ET. The country’s central bank is widely expected to hike interest rates by 75 basis points at the meeting.
- Fed Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.
Market volatility spikes ahead of Fed rate decision
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