There was a steep sell-off across markets as investors await the FOMC announcement on Wednesday afternoon. The Dow Jones, S&P 500, Nasdaq-100 and Russell 2000 ended lower. Ten out of the eleven S&P 500 sectors closed lower, with energy the worst performer. Regional banks saw a huge selloff a day after JPMorgan (JPM) acquires First Republic Bank. Uber (UBER) shares ended almost 12% higher today after earnings were better-than-expected for the first quarter and bookings for both rides and deliveries increased. AMD (AMD) shares dropped in postmarket trading after reporting an operating loss, net loss, and diluted loss per share for the first quarter of the year. Tomorrow, look for the ADP Employment Report, PMI Composite Final, and ISM Services Index Reports. At 2pm the FOMC announcement will be released followed by Jerome Powell’s press conference at 2:30pm. As for earnings, look out for CVS Health (CVS), Phillips 66 (PSX), Kraft Heinz (KHC), Etsy (ETSY), Mosaic (MOS), Qualcomm (QCOMM), and Zillow (ZG). Tune in to find out more about the stock market today.
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