Stock futures were little changed after Thursday’s return as investors assess the Fed’s plans
Traders on the floor of the NYSE, April 7, 2022.
Source: NYSE
U.S. stock futures were little changed Thursday night after key averages began to turn back later in the day as investors gauged the possibility of tighter monetary policy from the Federal Reserve. Federal Reserve to fight inflation.
Dow Jones Industrial Average futures rose 10 points, or 0.03%. Futures contracts on the S&P 500 and Nasdaq 100 were up 0.04% and 0.07%, respectively.
The Dow Jones Industrial Average rebounded on Thursday after two consecutive days of declines. The Dow rose 87.06 points, or 0.25%, to 34,583.57 after falling as much as 300 points earlier in the session. The S&P 500 rose 0.43% to 4,500.21 and the Nasdaq Composite added 0.06% to 13,897.30.
The mixed session comes amid continued uncertainty as investors weigh the Federal Reserve’s more aggressive stance against inflation. On Wednesday, the central bank released the minutes of its March meeting, showing that policymakers plan to reduce their bond holdings by consensus amount about 95 billion dollars one month. The minutes also indicated the possibility of a rate hike to 50 basis points at future meetings.
Stephanie Link, investment strategist and portfolio manager at Hightower, told CNBC on “Closing Bell,” “We’re in a trading range market, and it’s going to be this way in a little while. time”. “And that’s really because we have so many unknowns to deal with.”
On the economic front, the wholesale inventory report will be released at 10 a.m. Friday.
Investors are also looking ahead to earnings season, which begins next week with reports from the big five banks. JPMorgan will report before the bell on Wednesday. Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo will report before market open on Thursday.
