The hostile offer sets up a furious battle between Paramount and streaming behemoth Netflix to buy one of Hollywood’s most storied studios.

Analysts expect the Federal Reserve to make a ‘hawkish cut’, where its statement, median forecasts and chair Jerome Powell’s press conference point to a higher bar for further rate cuts.

Investors are confident that the Federal Reserve will focus on lowering borrowing costs on Wednesday, which would help shore up the labour market.