S&P 500 Futures Rise as Fed Rate Cut Hopes Build

The Morning Bull - US Market Morning Update Wednesday, Oct, 29 2025

US stock futures are mixed ahead of the open as investors home in on today’s Federal Reserve decision, with rate cut expectations setting the tone across Wall Street. While hopes are building for more accommodative policy, the lack of fresh economic data due to a government shutdown is fueling uncertainty. This is prompting investors to weigh the Fed’s next move and the implications of slower real wealth growth and tepid job gains across the broader market.

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Top Movers

• Regeneron Pharmaceuticals (REGN) surged 11.82% after impressive Q3 earnings and multiple price target upgrades.
• MSCI (MSCI) jumped 8.58% on strong quarterly earnings and a $3 billion share repurchase announcement.
• United Parcel Service (UPS) gained 8.00% following a Q3 earnings beat and better-than-expected margins.

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Top Losers

• IonQ (IONQ) dropped 9.00% after recent uncertainty over federal support for quantum firms.
• Royal Caribbean Cruises (RCL) fell 8.53% despite upbeat Q3 earnings and updated yield guidance.
• Brown & Brown (BRO) declined 6.13% following mixed results on Q3 earnings.

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On The Radar

An action-packed round of blue-chip earnings and the closely watched Fed decision will take hold of investor attention.

• Fed Rate Decision: The Federal Reserve announces its policy update today, with markets focused on confirmation of a rate cut and Powell's tone on future moves.
• Alphabet (GOOGL) & Meta Platforms (META): After the market closes today, Q3 results from both tech giants will set the tone for the sector's growth narrative.
• Boeing (BA): Reports Q3 results today and will provide insight into production, deliveries, and the broader industrial supply chain recovery.
• Microsoft (MSFT): After the market closes today, Q1 results will reveal how artificial intelligence investments are impacting growth and cloud margins.
• Exxon Mobil (XOM): Before the bell on Friday, Q3 earnings will highlight energy sector profitability amid swings in oil prices and global demand.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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