Stock Market Today: Gloomy Start to May Ahead of Fed Decision

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U.S. futures are down as a busy earnings season continues and investors await an interest rate decision from the Fed.

U.S. futures were down Wednesday morning ahead of a decision by the Federal Reserve on interest rates.On Tuesday, the Dow Jones Industrial Average closed out April down 570 points, with the S&P 500 and Nasdaq down 1.6 percent and 2% respectively, marking the worst month of the year so far for equities.Amazon shares jumped in after-hours trading following a sales surge powered by investments in artificial intelligence technology at the company.

Chris Boshoff, chief oncology officer at Pfizer said in a press release that, 'Full approval by the FDA reinforces the important role of Tidvak for these patients, as the first antibody-drug conjugate with statistically significant prolonged overall survival data.'Investors are also anticipating an interest-rate decision from the Fed later on Wednesday, following a two-day policy meeting, and Chairman Jerome Powell's press conference immediately after the rate announcement.

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