- Fed funds futures are pricing in a near-zero chance that the Federal Open
Market Committee cuts rates today, instead betting that the central bank’s key
interest rate remains between 3.5% to 3.75%.
- Shares of Macy’s are up 9% this morning after the retailer beat expectations
for its fourth quarter. Despite the positive results, the company gave a
cautious outlook for its fiscal year, forecasting lower sales and earnings per
share than what it saw last year.
- Oil prices resumed their climb yesterday, with Brent crude rising 3.2% to top
$103 a barrel. The gains came as President Donald Trump said NATO allies would
not get involved in the Iran war, what he called a “a very foolish mistake.”
- Micron is riding high ahead of its second-quarter earnings report this
afternoon. Shares of the company are up more than 60% so far this year, making
it the only one of the 10 most valuable American tech firms in the green for
2026.
- Delta Air Lines, American Airlines and JetBlue Airways all raised their
first-quarter revenue expectations yesterday, even as the airline industry faces
higher fuel prices. Delta CEO Ed Bastian told CNBC that “really, really great”
traveler demand is offsetting both fuel costs and the impact of recent winter
storms.
