TLDR
- US stock futures rose modestly Wednesday ahead of a widely expected Federal Reserve interest rate hike
- The Fed is expected to raise rates by 25 basis points to 4.0%, the first hike in three years
- Bitcoin dropped 2% to around $75,000 after the Senate failed to pass the Clarity Act crypto regulatory bill
- The 10-year Treasury yield hit a near two-decade high of 5.03% before pulling back
- Oil prices above $100 per barrel are fueling inflation concerns ahead of the Fed decision
US stock futures edged higher on Wednesday morning as investors braced for a Federal Reserve interest rate decision that traders widely expect will result in the first rate hike in three years.
Futures on the S&P 500 rose 0.27%, Nasdaq 100 futures gained 0.48%, and Dow Jones futures climbed 0.2% in premarket trading. This came after two straight days of losses on Wall Street.
The gains came despite a rough stretch for markets. Rising oil prices, a sell-off in tech stocks, and growing anticipation of a rate hike had pushed indexes lower earlier in the week.
The Fed is expected to raise interest rates by 25 basis points, bringing the federal funds rate to 4.0%. According to CME Group, odds of a hike stand at 92%.
Fed Chair Kevin Warsh has repeatedly signaled he will limit forward guidance to markets. He recently reaffirmed the Fed’s commitment to its 2% annual inflation target, pointing to a continued hawkish stance.
The 10-year Treasury yield climbed to a near two-decade high of 5.03% earlier this week before pulling back. Treasury Secretary Scott Bessent defended the administration’s economic policies and disclosed plans for an upcoming summit with China, which helped ease some pressure on yields.
Crypto Takes a Hit
Bitcoin fell roughly 2% to the $75,000 level after the Senate failed to pass a key procedural vote on the Clarity Act, a proposed regulatory framework for digital assets. The vote’s failure removed a potential catalyst for the crypto market and sent prices lower.
🩸Crypto is BLEEDING after the CLARITY Act failed to clear the Senate.
Bitcoin dropped from $79,000 to below $76,000 as the bill fell short of the 60 votes needed.
Over $330 MILLION in positions liquidated across 80,000 accounts in 24 hours, per CoinGlass.
– XRP down 10%.
-… pic.twitter.com/V8yVWEktfF— Coin Bureau (@coinbureau) September 15, 2026
The drop in crypto came at an already difficult time for risk assets, with investors cautious ahead of the Fed’s announcement.
Tech Under Pressure
Technology stocks faced selling pressure this week after several major artificial intelligence executives called for a slowdown in AI development due to potential risks to humanity. That weighed on sentiment across the sector.
However, some recovery appeared possible. Intel was in focus after Reuters reported that SK Hynix was in talks with the chipmaker to produce memory chips in the US for the first time.
Oil prices also remained a concern. Brent and WTI futures stayed above $100 per barrel, keeping inflation worries alive heading into the Fed decision.
August retail sales data is expected to show a rebound, while a housing market index is forecast to soften as mortgage rates climb.
All eyes now turn to Warsh’s press conference following the rate decision, where markets will look for any clues about the path forward for monetary policy.
A rate hike could also put the Fed on a collision course with President Trump, who has been calling publicly for lower interest rates.
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