Stock futures drift higher ahead of Fed policy meeting: Live updates – CNBC

European markets opened lower on Tuesday as investors eagerly awaited the start of the US Federal Reserve’s two-day monetary policy meeting.

The pan-European Stoxx 600 index opened 0.2% lower, with sectors split into tentatively positive and negative territory. Healthcare sector stocks saw the biggest losses, down 0.7%, while travel and leisure stocks rose 0.2%.

—Hannah Ward-Glenton

Ark Invest’s Cathie Wood reiterated her massively bullish call on her electric vehicle darling Tesla, which has hit $2,000 in five years, thanks in large part to the robo-taxi boom.

“About a third of our valuation is associated with electric vehicles,” Wood said Monday on CNBC’s “Fast Money.” “Two-thirds of our evaluation concerns autonomy [driving] and autonomous taxi platforms. »

Wood’s bear case on Tesla is a target of $1,400 by 2027 and $2,500 for his bull case. Tesla is the largest holding in its flagship Ark Innovation ETF (ARKK), with a weighting of 11.5%. Tesla shares have more than doubled this year after losing 65% in 2022.

-Yun Li

Instacart priced its IPO at $30 per share late Monday, valuing the grocery delivery company at about $10 billion.

The company is expected to debut Tuesday on Nasdaq under the symbol “CART.”

That puts the offer at the high end of the expected range of $28 to $30 per share.

-Ari Levy, Samantha Subin

Stock futures opened little changed Monday evening as Wall Street anxiously awaited the start of the Federal Reserve’s policy meeting.

Futures contracts tied to the Dow Jones Industrial Average added 13 points, or 0.03%, while S&P 500 and Nasdaq 100 futures rose 0.02% and 0.06%, respectively.

—Samantha Subin