The three major indexes of US stocks weakened slightly, with the Dow down 0.43%, the Nasdaq down 0.41% and the S & P 500 down 0.45% as of press time.

The Fed will announce the results of its monetary policy meeting at 2pm EDT on Wednesday, followed by a press conference by Federal Reserve Chairman Powell.

The Fed is widely expected to raise interest rates by 75 basis points for the fourth time in a row to fight inflation.Investors are also concerned about whether the Fed will signal that it is prepared to slow the pace of rate hikes at its December meeting.

Analysts at Wall Street institutions such as Bank of America, Goldman Sachs Group, Morgan Stanley and Evercore ISI believe that the pace of the Fed's rate hike will slow in December and is expected to raise interest rates by 50 basis points.

Federal Reserve Chairman Powell's speech was also closely watched.His speech is expected to be an important factor affecting the performance of U. S. stocks in the coming months.

Before that, Fed officials had hinted that they might raise interest rates by 75 basis points at this week's meeting, raising the benchmark interest rate to a range of 3.75% and 4%, which has been fully priced by the market.

Some Fed officials have recently begun sending signals that they want to gradually reduce interest rate increases after this week's meeting and that they are likely to suspend rate increases early next year so that they can observe the effect of the rate hikes.

If Powell does send out the dove signal, it is expected to push US stocks up sharply and is the key to whether or not to start a new bull market, which will also inject momentum into the global market.

Emmanuel Cau, an analyst at Barclays, said:The trend of US stocks before the end of the year will depend on the policy shift statement issued by the Federal Reserve. The peaking of the hawkish stance could lead to more FOMO,Fear of missing out. But we should not confuse the peak of the hawkish position with the dovish position. Cutting interest rates is one of the prerequisites for the stock market to enter a bull market, butWe are still a long way from cutting interest rates.」

"after the recent rally in the stock market, its risk-return attractiveness has declined," he said. Tighter monetary policy will have an impact on the economy, earnings growth expectations still need to be reset, the valuations of stocks are less attractive than bonds, and there is still a threat of complete surrender by stock market investors. Seasonal factors are positive, hedge funds and systemic positions are low, and market participants are worried about missing the market, which may stimulate more short covering. "

Former US Treasury Secretary Summers also warned that expectations of a shift in Fed policy were "seriously misled", saying the Fed should "stick to the current line".

Dhwani Mehta, an analyst at FXStreet, said that if Friday's US non-farm payrolls data also showed a slowdown in job growth, then rumors that the Fed would turn to a dovish position would further intensify. However, Fed Chairman Powell's remarks after Wednesday's monetary policy conference are likely to "reveal the secret" and may hint that the Fed will slow the pace of monetary policy tightening.

On the economic data side on Wednesday, the US ADP Employment Agency reported that private sector employment in ADP rose 239000 in October, better than expected by 195000.

The US ADP employment data for October was strong, but in today's US stock market, "good news is bad news", this news put pressure on US stocks.

Nela Richardson, chief economist of the ADP, said that given the maturity of the economic recovery, this is a very strong employment data, but at the same time hiring activity is not widespread. Interest-rate-sensitive commodity producers are cutting back, and wages for those who change jobs are growing less. While we see early signs of Fed-driven demand disruption, it affects only certain areas of the labour market.

Focus stocks

Large-scale technology stocks rise and fall differentlyThe United States rose nearly 7%, NVIDIA Corp rose by more than 4%, and Meta fell by more than 2%. Apple Inc, Tesla, Inc., Berkshire and Alphabet Inc-CL C fell slightly.

Hot Chinese stocks rose generally.Li Auto Inc. rose by more than 8%, JD.com by nearly 4%, Pinduoduo by more than 2%, and BABA by more than 1%.

According to media reports$Twitter (TWTR.US)$Musk, the new chief executive, is recruiting engineers from other companies under his name to review Twitter's code. More than 50$Tesla (TSLA.US)$Employees, two Boring employees and one Neuralink employee are reported to have started working on Twitter.

However, the media say that the review teams of engineers from these other companies have little experience in the field of social platforms and that they work in a completely different programming language from Twitter. Twitter managers have instructed some employees to work 12-hour shifts seven days a week in order to finish the work within the time limit set by Musk, according to Twitter insiders, and the system does not arrange any compensation such as overtime pay or rest. As of press time, Tesla, Inc. is down more than 1%.

American memory chip manufacturer$Micron Technology (MU.US)$It said on Tuesday that it had begun providing smartphone makers with the latest samples of DRAM chips for testing. Meguiar uses a new generation of cutting-edge manufacturing technology 1-beta on the low-power LPDDR5X mobile memory, so that its highest speed can reach 8.5Gb. As of press time, the stock is up 0.27%.

S&P Global Inc. will be rated$Credit Suisse (CS.US)$The bank's long-term rating was downgraded to just one notch above junk, highlighting the challenges facing the bank after it announced a major restructuring plan last week. Credit Suisse's long-term rating was downgraded from BBB to BBB-, with a stable outlook. The rating is only one notch higher than BB's "speculative grade". S & P said its restructuring plan "carries significant implementation risks against a backdrop of deteriorating and volatile economic and market conditions", echoing the views of several other analysts. "Credit Suisse's third-quarter earnings showed a weakening of its franchise business, capital outflows and a rigid cost base, indicating that its leading wealth management business was not as resilient as previously expected," S & P said in a statement. As of press time, the stock fell 0.16%.

$DuPont (DD.US)$Announce the termination of the acquisition$Rogers (ROG.US)$. As of press time, Rogers is down more than 43%.

$Airbnb (ABNB.US)$Growth in accommodation and experience bookings is expected to slow slightly in the fourth quarter, with the stock down nearly 6 per cent as of press time.

$Advanced Micro Devices (AMD.US)$Announced that the third-quarter results exceeded expectations, as of press time, the stock rose nearly 6%.

$Estee Lauder (EL.US)$Full-year net sales are expected to fall 6-8%, and as of press time, the stock is down more than 6%.

$GlaxoSmithKline (GSK.US)$The third-quarter results exceeded expectations and raised the full-year performance guidance. As of press time, the stock is up nearly 1%.