Stock futures were near flat on Monday evening as investors awaited the Federal Reserve’s policy decision expected Wednesday. In regular trading, the Dow Jones declined 152 points (0.3%), the S&P 500 lost 0.5% and the Nasdaq Composite slipped about 0.6%, weighed down by a sell-off in artificial intelligence-related stocks. Nvidia dropped 3% and Corning fell 13%. The 10-year Treasury yield briefly topped 5%, its highest level since October 2023. Oil prices also rose, with Brent closing above $105 per barrel and WTI above $101, after Saudi Arabia shut a key pipeline bypassing the Strait of Hormuz. Fed funds futures trading suggests a roughly 92% likelihood of a quarter-point rate hike.
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