Less than 24 hours until the Fed decision, and while investors are waiting with baited breath, the day was far from quiet. With earnings season in full swing, there were a number of results to contend with pre market – Coca-Cola (KO, +1.35%) beat on sales and profits and McDonald’s (MCD, +2.62%) also beat, bringing some optimism to the consumer sector. However, last night Walmart (WMT, -7.63%) pre-announced negatively, as a stark reminder about the inventory issues many still face. GM (GM, -3.4%) beat on revenue and maintained its guidance, but missed on profit estimates – another chip shortage story at play. Energy also remained a key focus, with crude higher on news that Gazprom would cut capacity on the Nord Stream 1 to 20% from Wednesday.
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