Semiconductor stocks have largely stabilized overnight after two sharp retreats to start the week, despite an earnings miss from SK Hynix Inc. (SKHY 128.70, -1.48, -1.1%) that pushed South Korea’s Kospi sharply lower.
Meta Platforms (META 595.61, +2.20, +0.4%) and Microsoft (MSFT 394.07, +0.72, +0.2%) set to deliver results after the close.
FOMC’s policy decision at 2:00 p.m. ET and the subsequent press conference from Fed Chair Kevin Warsh. The CME FedWatch tool currently assigns a 64.2% probability to the Fed leaving rates unchanged.
Oil sharp move higher after the U.S. intercepted multiple missile attacks from Iran across the Middle East, reclaiming some of its losses that have supported solid gains throughout the broader market despite the elevated volatility across semiconductor stocks.