Only A 2.6% Chance Of A Fed Rate Cut; Fintech, Healthcare Earnings In Focus

Let's get into it… today's one of those days where every hour has a headline. But first, yesterday morning started with a batch of earnings from fintech and healthcare. And then of course we're heading straight into a firestorm after the bell, today, with $6.5 trillion in market cap set to report. Oh, and the Fed meets today. No pressure.

Fintech and Healthcare Check-In

SoFi Technologies (SOFI) delivered its 17th straight revenue beat, coming in at $498M vs. $487M estimates. Personal loan originations are still strong, but commentary hinted at tighter lending standards ahead.

PayPal (PYPL) is in slow-motion turnaround mode. Total Payment Volume (TPV) was $404B vs. $402B expected, with active accounts roughly flat. Venmo growth was stagnant, and while cost cuts helped margins, investors are still waiting for a spark.

Novo Nordisk (NVO) slid after revising guidance lower… pressure in the U.S. obesity drug channel is real, even for a GLP-1 giant. Ozempic and Wegovy sales are still growing, but at a more measured pace. New CEO stepping in as they recalibrate the next phase of growth.

 UnitedHealth (UNH) dropped like a rock after earnings, despite relatively in-line numbers. The issue? A weaker outlook for FY2025, rising medical costs, and ongoing Medicare probe headlines. Investors clearly want more reassurance from management… and they didn't get it.

Eyes on the Fed: Will They or Won't They?

The FOMC meeting wraps up today (Wednesday), and no one's expecting a miracle. There's only a 2.6% chance of a rate cut… essentially none. But every word from Powell matters, especially with inflation showing mixed signals and GDP forecasts cooling.

Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.