Here’s what we’re watching ahead of the opening bell on Wednesday.
—U.S. stock futures are slipping as investors react to early results from Georgia’s runoff elections. Nasdaq-100 futures are taking the biggest hit, off 1.5% on expectations that a Democratic-controlled Senate would lead to tighter regulations on tech giants.
Government bonds sold off too, pushing the yield on 10-year Treasurys above 1% for the first time since March. Read our full market wrap here.
What’s Coming Up
—The Federal Reserve will release minutes of its December policy meeting at 2 p.m. ET. The central bank said at the time that large-scale purchases of government debt and mortgage securities would continue “until substantial further progress has been made” toward broader employment and inflation goals.
—The Energy Information Administration will report how much oil was in storage in the U.S. last week at 10:30 a.m. Crude supplies are expected to have fallen. Benchmark U.S. crude futures are back above $50 a barrel after breaching that level on Tuesday for the first time since last February on Saudi Arabia’s decision to cut extra barrels of output.
