Top 10 Jim Cramer Things to Watch in the Market on Wednesday: Fed Day, Crypto Hearings, Nvidia Boost

Top 10 things to watch Wednesday, December 14, 2022

1. US stock futures point to a relatively flat open, as Wall Street waits to see what the Federal Reserve will do with interest rates Wednesday afternoon at the conclusion of its December meeting. The market expects an interest rate hike of 50 basis points after four consecutive increases of 75 basis points. A cooler-than-expected CPI reading on Tuesday gives investors hope that inflation has really turned the corner.

2. Cryptocurrency exchange Binance has “settled down” and “deposits are returning,” CEO Changpeng Zhao says. There has been a lot of cryptocurrency withdrawals in the industry after the collapse of the FTX exchange and the arrest of its founder, Sam Bankman-Fried, on fraud charges. One day after the House Financial Services Committee’s crypto hearing, it’s the Senate Banking Committee’s turn on Wednesday.

3. Delta Shares of (DAL) rose in the pre-market after the airline boosted its fourth-quarter and full-year earnings per share (EPS) estimates. You see an EPS delta of $1.35 to $1.40 versus the $1 to $1.15 expected. Full-year 2022 EPS guidance: $3.07 to $3.12 vs. $2.89 expected. by contrast, Jet Blue (JBLU) says it expects fourth-quarter revenue per available seat mile at the lower end of its previous guidance range.

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