Stock Market Today: Dow Jones, S&P 500 Futures Jump Ahead Of January FOMC Minutes—Palo Alto Networks, Tactile Systems, DoorDash In Focus

U.S. stock futures rose on Wednesday after closing slightly higher on Tuesday. Futures of all the major benchmark indices were positive.

Wednesday’s publication of the Federal Reserve's January meeting minutes will be closely watched by investors seeking further clarity on the perspectives of policymakers. However, the week’s primary macroeconomic focus shifts to Friday, when the Personal Consumption Expenditures index is scheduled for release.

The 10-year Treasury bond yielded 4.07%, and the two-year bond was at 3.45%. The CME Group's FedWatch tool‘s projections show markets pricing a 92.1% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.

Index	Performance (+/-)
Dow Jones	0.48%
S&P 500	0.57%
Nasdaq 100	0.63%
Russell 2000	0.40%

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Wednesday. The SPY was up 0.57% at $686.76, while the QQQ advanced 0.62% to $605.01.

Stocks In Focus

Celanese

• Celanese Corp. (NYSE:CE) soared 5.94% despite posting downbeat earnings for the fourth quarter. However, the outlook was positive as the company said it sees first-quarter adjusted earnings of 70 cents to 85 cents per share, versus market estimates of 89 cents per share.

• CE maintains a stronger price trend over the long, short, and medium terms, as per Benzinga's Edge Stock Rankings.

Ovintiv

• Ovintiv Inc. (NYSE:OVV) rose 4.17% after it announced a definitive agreement to sell its Anadarko assets in Oklahoma for $3 billion in cash.

• OVV maintains a stronger price trend over the short, medium, and long terms, but ranks poorly in growth, per Benzinga's Edge Stock Rankings.

Tactile Systems Technology

• Tactile Systems Technology Inc. (NASDAQ:TCMD) surged 23.53% after reporting the fourth-quarter earnings and forecasting revenue between $357 million and $365 million for 2026, reflecting an anticipated growth of 8% to 11%, despite potential challenges from Medicare’s new prior authorization requirements.

• Benzinga’s Edge Stock Rankings indicate that TCMD maintains a weaker price trend over the short term but a strong trend in the medium and long terms, with a solid quality ranking.

Palo Alto Networks

• Palo Alto Networks Inc. (NASDAQ:PANW) tumbled 7.34% after the cybersecurity firm lowered its fiscal 2026 full-year profit guidance to a range of $3.65 to $3.70 per share, overshadowing a quarterly earnings beat and an upward revision to its annual revenue outlook.

• Benzinga’s Edge Stock Rankings indicate that PANW maintains a weak price trend over the long, medium, and short terms, with a strong growth ranking.

DoorDash

• DoorDash Inc. (NASDAQ:DASH) was up 0.30% as analysts expected it to post quarterly earnings of 59 cents per share on revenue of $3.99 billion after the closing bell.

• DASH maintains a weaker price trend over the long, short, and medium terms, with a poor value ranking, as per Benzinga's Edge Stock Rankings.

Cues From Last Session

Real estate and financial stocks bucked the overall market trend on Tuesday, closing higher despite consumer staples, energy, and materials stocks recording the biggest losses.

Index	Performance (+/-)	Value
Dow Jones	0.065%	49,533.19
S&P 500	0.10%	6,843.22
Nasdaq Composite	0.14%	22,578.38
Russell 2000	-0.0042%	2,646.59

Insights From Analysts

Adam Turnquist, Chief Technical Strategist at LPL Financial, expects the U.S. stock market and economy to remain resilient despite a significant shift in market narrative.

He notes that widespread anxiety over an artificial intelligence (AI) “bubble” has transitioned into fears of industry-level disruption, particularly within the software sector.

Turnquist views the recent severe selling pressure—which saw software stocks reach “historically oversold levels”—as a potentially “overly punitive” re-rating given that broader fundamentals remain supportive.

Regarding the economy, Turnquist points to an “ongoing cyclical strength” that is “generally consistent with an improving economy and rising risk appetite.”

He notes that LPL’s base case is “no recession for 2026,” bolstered by anticipated fiscal stimulus and productivity gains from AI deployment. However, he remains cautious of “occasional bouts of volatility” and is monitoring a recent “tilt towards risk aversion” as big tech cools. Despite these jitters, he maintains that “the broad market’s long-term uptrend remains intact”.

Upcoming Economic Data

Here's what investors will be keeping an eye on Wednesday.

• November and December’s delayed housing starts, building permits data, and December’s delayed durable-goods orders data will be released by 8:30 a.m. ET.
• January’s industrial production and capacity utilization data will be out by 9:15 a.m., and minutes of the Fed’s January FOMC meeting will be released by 2:00 p.m. ET.

Commodities, Gold, Crypto, And Global Equity Markets

Crude oil futures were trading higher in the early New York session by 0.34% to hover around $62.47 per barrel.

Gold Spot US Dollar rose 0.83% to hover around $4,918.10 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.13% higher at the 97.2780 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.10% higher at $68,101.01 per coin.

Asian markets closed mixed on Wednesday, as China’s CSI 300 and South Korea's Kospi indices fell. On the other hand, Japan's Nikkei 225, India’s Nifty 50, Australia's ASX 200, and Hong Kong's Hang Seng indices closed higher. European markets were higher in early trade.

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