Wall Street stock futures were broadly unchanged on Thursday, as investors kept an eye on Federal Reserve policymakers for more clues to interest-rate strategy after a series of mixed messages.
S&P 500 futures hovered above the flatline, after the benchmark narrowly notched its eighth straight day of gains on Wednesday — the index’s longest in two years. Dow Jones Industrial Average (^DJI) futures added about 0.1%, while contracts on the tech-heavy Nasdaq 100 (^NDX) fell around 0.1%
The market will watch for Jerome Powell to let slip any clues to the chance of a rate cut when he speaks later, after the Fed chair stayed quiet on monetary policy at his appearance Wednesday. A stream of commentary from central bankers in recent days has revealed a range of stances, prompting uncertainty where investors were once convinced the Fed was done with hikes.
Read more: What the Fed rate-hike pause means for bank accounts, CDs, loans, and credit cards
A fresh clutch of corporate reports lies ahead as earnings season winds down. Disney (DIS) shares rose after its after-hours quarterly earnings beat estimates, though they were also likely boosted by a tentative deal between Hollywood studios and striking actors.
Meanwhile, shares in Arm (ARM) slid as investors digested its first post-IPO results, as well as the $6.2 billion quarterly loss posted by the chip designer’s backer SoftBank.
In commodities, oil clawed back some losses after plunging to a three-month low on concerns about global consumption. West Texas Intermediate crude futures (CL=F) and Brent crude futures (BZ=F) added about 0.5%, to trade at around $76 and almost $80 a barrel, respectively.
KStock futures mixed as Wall Street waits for Powell again
The major US stock gauges were broadly unchanged on Thursday as investors assessed a range of policy messages from Federal Reserve officials and waited to see whether Chair Jerome Powell would shed more light in his comments later, his second appearance this week.
Futures on the Dow Jones Industrial Average (^DJI) were up 0.10%, or 37 points, while S&P 500 (^GSPC) futures added 0.07%. Contracts on the tech-heavy Nasdaq 100 (^NDX) fell 0.10%.
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