US Futures Nudge Higher Ahead of Federal Reserve Board Meeting; Fourth Straight Rate Hike Expected

US stock futures are mixed during Wednesday’s premarket session ahead of today’s meeting of the Federal Reserve Board, which is expected to raise interest rates by 0.75% for the fourth consecutive time in its battle against rampant inflation.

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The Dow Jones Industrial Average futures are down 0.06%, S&P 500 futures are up 0.04%, and Nasdaq futures are up 0.17%.

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Oil prices are moving higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.20% and 0.23% respectively.

Shares of Benefitfocus (BNFT) soared 48% in Wednesday’s premarket session after Voya Financial (VOYA) said it will acquire all outstanding shares of Benefitfocus common stock for $10.50 per share in an all-cash transaction valued at approximately $570 million. Arcturus Therapeutics (ARCT) shares surged 30% after it said late Tuesday that it has signed a collaboration deal with CSL Seqirus to develop and sell mRNA vaccines against various infectious respiratory viruses, including SARS-CoV-2 and influenza. And shares of Kubient (KBNT) climbed 24% higher, adding to Tuesday’s 6% gain.

Meanwhile, shares of Rogers Corporation (ROG) plunged 42% after DuPont de Nemours (DD) said late Tuesday its agreement to acquire the outstanding shares of the electronics company has been terminated because the companies did not receive the required regulatory approvals in a timely manner. TFF Pharmaceuticals (TFFP) shares plummeted 38% after rising 8% in Tuesday’s session. And shares of LL Flooring (LL) tumbled 34% premarket after it reported Q3 results Wednesday that missed Street forecasts.

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