FOMC meeting kicks off, U.S.-China trade talks, Capital One data breach, Apple earnings, and more

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U.S. stock index futures

Fed meeting kicks off today

U.S. stock index futures were lower on Tuesday as investors await the Federal Open Market Committee (FOMC) to begin its two-day meeting.

While the Fed will most likely cut interest rates, investors will be paying close attention to Chairman Jerome Powell’s press conference on Wednesday afternoon which is expected to provide an opportunity to gauge the future path of U.S. monetary policy.

At 5:36 a.m. ET, futures on the blue-chip Dow were down 73.5 points, or 0.27% to 27,124.5. Futures on the tech-heavy Nasdaq 100 declined 33.13 points, or 0.41% to 7,968.12 while futures on the broader S&P 500 dropped 8.37 points, or 0.28% to 3,013.38.



Capital One says 100 million customers affected in massive data breach

Capital One Financial Corp (NYSE: COF) said Monday that an outside hacker obtained the personal information of over 100 million credit card customers and applicants, one of the largest data breaches from a bank.

Thousands of bank account and Social Security numbers were also compromised in the breach, according to investigators. Approximately 6 million individuals based in Canada and 100 million individuals in the U.S. had their information affected, according to a statement by Capital One, the fifth-largest credit-card issuer in America.

The FBI has since arrested a Seattle area woman, Paige A. Thompson, who worked for Amazon Web Services (AWS) years before the breach happened.

U.S., China begin trade talks in Shanghai

American and Chinese trade officials began their two-day meeting negotiations in Shanghai on Tuesday to try and reach an agreement, though expectations are low. Both sides have so far failed to agree on the most pressing issues during their previous meetings and there is little to suggest that a deal is within reach.

“I don’t think personally China would sign a deal if I had a 2% chance of losing the election. I think China would probably say: ‘Let’s wait. Let’s wait. Maybe Trump will lose and we can deal with another dope, or another stiff,” U.S. President Donald Trump told reporters at the White House last week.

Apple earnings out today

Apple Inc (NASDAQ: AAPL) is scheduled to report its fiscal third-quarter results after the closing bell today. Wall Street expects the iPhone maker to return to revenue growth after its revenue fell 5% on a year-over-year basis in fiscal second-quarter.

Analysts forecast adjusted earnings of $2.10 per share on $53.31 billion in revenue for its fiscal third quarter, according to data compiled by Refinitiv.

Procter & Gamble Co (NYSE: PG), ConocoPhillips (NYSE: COP), Mastercard Inc (NYSE: MA), Celgene Corp (NASDAQ: CELG), Merck & Co Inc (NYSE: MRK), HCA Healthcare Inc (NYSE: HCA), Eli Lilly (NYSE: LLY), Mondelez International (NASDAQ: MDLZ), and Amgen (NASDAQ: AMGN) are also set to report today.

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