Snowflake Inc SNOW shares are trading lower by 4.91% to $151.67 amid weakness in tech stocks. Also, Macquarie initiated coverage on the stock with a Neutral rating.
Major indices are lower after the ADP National Employment Report showed private sector employment in October rose by 239,000 jobs, which has added to concerns of a tight labor market.
The Fed will announce its interest rate decision at 2:00 p.m. ET today.
What Else?
The bond market is pricing in a 90.2% chance of a fourth consecutive 0.75% rate hike this afternoon, according to CME Group.
The odds of a 0.75% rate hike have crept higher from 88.7% on Monday ahead of the Fed decision.
The Federal Reserve is unlikely to surprise with just a 0.5% cut this week given the consumer price index (CPI) gained 8.2% in September, exceeding economist estimates of 8.1%...Read More
Snowflake has a 52-week high of $405.00 and a 52-week low of $110.26.
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