FOMC minutes ahead; Constellation Brands reports - what’s moving markets Scott Kanowsky Wed, October 7, 2026 at 4:19 AM EDT 5 min read STZ +2.08% LEVI +1.28% SPCX +0.49% NVDA +0.14% ^DJI +0.49% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Investing.com - Futures linked to the main U.S. stock indices inch down, before the release of key minutes from the Federal Reserve's latest policy gathering. Investors will be hunting for any insight into the Federal Open Market Committee's policy trajectory, after rate-setters lifted borrowing costs at their September meeting. Elon Musk's SpaceX reportedly looks to raise $40 billion to purchase more Nvidia chips. Shares of beer producer and marketer Constellation Brands retreat following quarterly earnings, while jeans manufacturer Levi Strauss is due to report.
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U.S. stock futures pointed lower on Wednesday. By 02:56 ET (06:56 GMT), the Dow futures contract had dropped by 108 points, or 0.2%, S&P 500 futures were mostly unchanged, and Nasdaq 100 futures had dipped by 28 points, or 0.1%.
The main averages on Wall Street crept higher in the prior session, although the indices ended off their earlier highs.
A selloff in U.S. bonds took a breather, while a similar rout in France eased, soothing worries of contagion spreading in global debt markets. But analysts at Vital Knowledge suggested that investors remain skeptical that "this asset class can sustain a material rally," highlighting that a surge in artificial intelligence spending will likely coincide with a "tidal wave" of debt issuance. Benchmark 10-year U.S. and French bond yields moved higher.
Meanwhile, oil prices initially fell, fueling hopes that improving crude shipments out of the Middle East will ease energy-induced inflationary pressures. Yet crude prices eventually rebounded, with reports underlining the massive cost of ferrying oil through the Gulf and an ongoing global shortage of refined products.
Traders are now looking ahead to the unveiling of minutes from the Fed's meeting in September, when the central bank raised interest rates for the first time since 2023.
Official projections also hinted at more rate rises to come before the end of the year. Policymakers are keen to corral inflation, which has been hovering well above the Fed's 2% target for months, due largely to the energy price jump caused by the Iran war.
Still, expectations have faded that the Fed will roll out another rate increase at its next gathering this month. Along with a selection of statements from Fed officials downplaying the urgency of an October hike, recent employment data came in softer than anticipated, likely keeping rate-setters wary of tightening policy so fast that it dents the wider economy.
In theory, raising borrowing costs can put a lid on price gains, albeit at the risk of weighing on the labor market and economic growth.
3. SpaceX to raise $40 billion to buy Nvidia chips - FT
SpaceX is seeking to raise $40 billion in an endeavor led by Apollo Global to buy Nvidia chips, the Financial Times reported on Tuesday, citing people familiar with the matter.
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Elon Musk's rocket and artificial intelligence firm is seeking to raise about $10 billion in bank loans and $30 billion in investment-grade debt for the order, with Apollo expected to lead the deal and help market the debt, the FT report said.
Pimco was among a small group of lenders in talks to fund the deal, the FT reported.
The planned fundraise highlights the large sums that are being poured into data centers, chips, and other infrastructure needed to run AI.SpaceX is closely tied to Nvidia, with Musk having earlier stated that it would exclusively use Nvidia chips in its Colossus data centers.
4. Constellation Brands slips after earnings
Shares of Constellation Brands fell in after-hours trading, despite the company, whose brands include beers like Corona and Modelo Especial, posting better-than-expected second-quarter profit and sales.
Net sales for the quarter ended on August 31 climbed 6% to $2.63 billion, while earnings per share on an adjusted basis stood at $3.74. Both outpaced Wall Street expectations, according to LSEG data cited by Reuters.
But beer depletions, a critical metric tracking when distributors sell brews to retail accounts, edged down by 0.6%, missing estimates by 70 basis points, analysts at TD Cowen flagged.
They added that management's decision to reiterate its full-year financial guidance implies that second-half sales "will be down [roughly] 2% at the midpoint." August trends also slowed against a weaker consumer backdrop, likely leading to increased marketing investment in the final six months of the fiscal year, the analysts noted.
Constellation also said it will pay $75 million -- and potentially an additional $278 million over five years -- following the closure of a deal to acquire SpikedAde, a vodka-based ready-to-drink beverage firm.
On the earnings calendar, Levi Strauss is due to report after the closing bell, with the jeans maker banking on the appeal of its premium denim products among wealthier customers despite wider economic uncertainty.
Shares of Levi's have edged down by more than 1% so far this year, even after the company lifted its full-year profit outlook in July.
Speaking to investors at the time, CEO Michelle Gass said that Levi's, which has rolled out baggier styles to entice Gen Z shoppers and has focused on building its higher-margin direct-to-consumer business, was attempting to capture a "sizable premium segment" it has not already accessed.
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