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Stock futures slip as investors gear up for start of Fed policy meeting: Live updates

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An Hour Ago

S&P 500 still more than 12% above key moving average, BTIG says

The S&P 500 is still more than 12% above its 200-day moving average, and it is a spot the index historically can’t stay above for long, according to BTIG.

This figure calculates the S&P 500’s average close over the past 200 sessions. The broad index trading above that level generally means it is considered to be in an uptrend.

Since it is currently so far above the 200-day average, the S&P 500 could theoretically pull back without breaking below this key level. The S&P 500 rose to a fresh record close on Monday, bringing its year-to-date gain up to 12.4%.

“This isn’t a sell signal by itself, but historically it doesn’t spend much time above this threshold,” chief market technician Jonathan Krinsky told clients. “We remain tactically cautious here, while finding opportunistic single-name ideas.”

— Alex Harring

An Hour Ago

DXC rises on Reuters report of Apollo and Kyndryl bid

Information technology stock DXC Technology climbed nearly 4% in extended trading after Reuters reported a joint bid from Apollo Global and Kyndryl Holdings.

The businesses have reportedly talked about offering between $22 and $25 per share for DXC, according to Reuters. Apollo shares were little changed after hours, while Kyndryl slipped more than 1%.

— Alex Harring

2 Hours Ago

Stock futures are little changed

Stock futures were near flat shortly after 6 p.m. ET.

Dow futures slipped nearly 0.1%. S&P 500 and Nasdaq 100 futures traded just marginally below their flatlines.

— Alex Harring

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