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US stock futures (ES=F, NQ=F, YM=F) are getting a push higher in Wednesday's pre-market trading on headlines that the Trump administration will reportedly be meeting with Chinese officials for trade talks this weekend.
At the conclusion of their May FOMC meeting, Federal Reserve officials will announce their latest interest rate decision latest this afternoon, followed by a press conference with Chair Jerome Powell. Wall Street is expecting the central bank to hold rates amid President Trump's tariff push.
Disney (DIS) shares soar in the pre-market session as the entertainment giant raised its full-year profit forecast alongside an earnings and revenue beat for its fiscal second quarter.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Let's get to the three things that you need to know today.
First up, US stock futures getting a boost this morning after the White House revealed the US and China will meet over the weekend. The meeting marking the first confirmed trade talk since President Donald Trump's tariff announcement on April 2nd, which sent stocks plunging. The Treasury Secretary will partake in the meetings, which will focus on de-escalation rather than one big trade deal.
Plus, investors are awaiting the Federal Reserve rate decision that comes today. The Central Bank expected to leave interest rates unchanged, a move likely to frustrate the president who's called for lower rates. Now officials have stressed recently that while uncertainty is high, monetary policy is in a good place to balance the Fed's goals of maximum employment and stable prices. All eyes will be on Chair Powell's press conference.
And Disney soaring this morning after raising its full-year profit forecast and beating quarterly estimates. The beaten raise is coming after a number of major companies have pulled their guidance amid the uncertainty caused by President Trump's trade war. Disney is benefiting from faster than expected growth at its parks and streaming business and pointed to that strong performance to boost its guidance.
