Stock futures are little changed ahead of Fed’s rate decision, consumer inflation data:

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28 Mins Ago

DoubleLine Gundlach says Fed’s dot plot will show 2 cuts for 2024

DoubleLine Capital CEO Jeffrey Gundlach believes the Federal Reserve’s so-called dot plot will show a projection of only two rate cuts for this year, he said in an investor webcast Tuesday after the bell.

That would be down from the previous forecast of three interest rate cuts indicated for 2024.

The dot plot indicates how 19 FOMC members, both voters and nonvoters, expect where rates would be through the end of the year and out to 2026 and beyond.

The noted fixed income investor previously said he sees no more than one interest rate cut this year as the Fed continues to fight inflation.

— Yun Li

46 Mins Ago

Oracle, Rentokil among stocks making biggest after-hours moves

Check out the companies making headlines in after-hours trading:

Oracle — The tech company’s shares jumped nearly 9% after it announced cloud deals with Google and OpenAI, despite posting a miss on fiscal fourth-quarter results. Oracle posted adjusted earnings of $1.63 per share on revenue of $14.29 billion, while analysts expected earnings of $1.65 per share on $14.55 billion in revenue.
Rubrik — Shares of the cloud data management company advanced 1.4% after beating first-quarter expectations on revenue. Rubrik reported $187 million in revenue for the period, while analysts polled by LSEG anticipated $172 million.
Rentokil Initial — Shares in Terminix-parent Rentokil jumped about 7.5% after Nelson Peltz’s Trian Partners confirmed it has taken a significant position in the pest-control giant and is currently a top-10 shareholder of the company.

For more, read here.

— Pia Singh

An Hour Ago

Stock futures open little changed Tuesday night

Stock futures were slightly lower shortly after 6 p.m. ET. S&P 500 and Nasdaq 100 futures traded lower by 0.05% and 0.09%, respectively. Dow futures slipped just below the flatline, meanwhile.

— Pia Singh