U.S. stock index futures pointed to a slow start to Thursday’s session, as market participants digested comments from the Federal Reserve.
Around 7:24 a.m. ET, Dow Jones Industrial Average futures indicated a loss of 14 points while S&P 500 pointed to a flat open. Nasdaq 100 futures pointed to slight gains.
The muted moves come after Fed Chairman Jerome Powell said Wednesday that recently low inflation pressures may just be “transitory,” hinting that a rate cut may not be on the horizon. Powell’s comments sent stocks tumbling, with the Dow closing more than 150 points lower.
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Powell’s comments followed the Fed’s decision to leave rates unchanged, citing lackluster inflation. Ahead of the meeting, President Donald Trump had asked the central bank to cut rates and increase stimulus.
Meanwhile, earnings season continued with companies like Square reporting better-than-expected results on Wednesday after the close. However, the stock fell more than 4% in the premarket as Square issued weaker-than-expected guidance for the second quarter.
Under Armour and Dunkin’ Brands reported better-than-expected results on Thursday. Their shares rose 5.4% and 4.7%, respectively. Tempur Sealy also rose 3.6% on stronger-than-forecast results.
On the data front, there will be jobless claims, productivity data, and unit labor costs at 8:30 a.m. ET, followed by factory orders at 10 a.m. ET.
Source: cnbc.com | Original Link