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By Arie Shapira

September 26, 2018 at 11:16 AM UTC

This article is for subscribers only.

Stocks are looking higher across the board on this Fed day, with the S&P futures sitting at overnight highs (up ~6 points) on headlines that China is planning to cut import tariffs on nearly 1,600 items starting in November. The iShares China Large-Cap ETF (ticker FXI), already higher thanks to the MSCI index weighting announcement, is getting bid up further to the tune of about 1 percent.

Sectors to watch today include the sporting apparel and footwear names off of Nike earnings (down ~2.5% pre-market, but bullish analysts are calling to buy the dip), homebuilders on the KB Home beat (up ~6%, though Deutsche Bank says guidance and commentary soften the positives to make their overall take neutral), and the auto retail names ahead of CarMax results (seems like every auto-related earnings has been a bust recently, from BMW’s warning to results from BorgWarner, AutoZone, and Copart).