US pre-open: Futures mixed as traders look ahead to Fed decision
By Iain Gilbert
Date: Monday 15 Sep 2025
(Sharecast News) - Wall Street futures were mixed ahead of the bell on Monday as market participants prepped for the outcome of this week's all-important Federal Reserve meeting.
As of 1230 BST, Dow Jones and S&P 500 futures were up 0.23% and 0.11%, respectively, while Nasdaq-100 futures had the index opening 0.03% lower.
The Dow closed 273.78 points lower on Friday, weighed down by cautious sentiment ahead of next week's Federal Reserve policy decision and mixed economic signals.
The Federal Reserve was widely expected to cut interest rates at the conclusion of its policy meeting on Wednesday, with futures markets pricing in a 96% probability of a 25-basis point reduction, while a more aggressive 50-basis point cut was seen as far less likely.
In the corporate space, Nvidia shares were lower in pre-market trading, weighing on the tech-heavy Nasdaq, after Chinese regulators said the chipmaker had breached anti-monopoly laws. The State Administration for Market Regulation said a preliminary investigation found Nvidia in violation of competition rules tied to its 2020 acquisition of Israeli networking firm Mellanox. The probe, launched late last year, centres on conditions imposed during the deal's approval and certain post-transaction agreements.
Rostro's Joshua Mahony said: "Attention in the US remains fixed on trade and monetary policy, with US-China negotiations in Madrid likely to be strained by the Chinese ruling that Nvidia had violated anti-monopoly laws.
"The focus of this week will undoubtedly be Federal Reserve's policy meeting on Wednesday. Last week's stronger-than-expected CPI print of 0.4% has all but erased the prospect of a 50bp cut, now priced at just 6%. However, the weakness of the jobs market appears to be carrying the will of the president for the time being, with the four-year high in jobless claims ensuring that a rate cut looks nailed on this time around. Political drama is adding another layer of uncertainty, with President Trump continuing his push to oust Fed Governor Lisa Cook. While the President took aim at Powell through claims of financial mismanagement, Cook has been accused of mortgage fraud, which she has thus far decided to fight in court. The outcome of that legal battle could have sweeping implications for the Fed's independence, just as policymakers prepare to set the tone for monetary policy into year-end."
On the macro front, September's NY Empire State manufacturing index will be published at 1330 BST.
Reporting by Iain Gilbert at Sharecast.com
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