US futures lower after Fed decision

Business


U.S. stock futures pointed to a negative open on Friday as investors digested the latest comments from the Federal Reserve.

As of 4:40 a.m. ET, Dow Jones Industrial Average futures were seen down by 79 points, indicating a negative open of -57 points. S&P 500 and Nasdaq futures were also in the red.

The Fed on Thursday decided to leave its benchmark interest rate unchanged, as was expected, but comments by the U.S. central bank suggested it was on course to continue hiking rates. Although a statement released by the institution noted a moderation in business investment, it said the bank still expects “further gradual increases” in the prime lending rate. Traders had been on edge last month due to concerns over the Fed’s rate hiking path.

Several Fed members will deliver speeches throughout the day on Friday. New York Fed President John Williams is holding a speech at 8:30 a.m. ET, Philadelphia Fed President Patrick Harker is making a speech at 8:50 a.m. ET, and Fed Vice Chairman of Supervision Randal Quarles is speaking at 9 a.m. ET.



Source link

Products You May Like

Articles You May Like

Levi Strauss IPO seeing high demand, more than 10 times oversubscribed: Sources
Sheila Bair on college admissions scandal and a student debt solution
Tiffany, Nike, Avon Products & more
Levi’s stock is too rich to buy after a high-flying IPO
Revlon, Advanced Micro Devices, Domino’s Pizza & more

Leave a Reply

Your email address will not be published. Required fields are marked *