US pre-open: Futures lower as traders thumb over FOMC minutes
By Iain Gilbert
Date: Thursday 20 Feb 2025
(Sharecast News) - Wall Street futures were in the red ahead of the bell on Thursday after the S&P 500 notched its second consecutive record close.
As of 1255 GMT, Dow Jones futures were down 0.23%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.29% and 0.33% weaker, respectively.
The Dow closed 71.25 points higher on Wednesday as traders shrugged off further tariff threats from Donald Trump as they thumbed over minutes from the FOMC's latest policy meeting.
Hargreaves Lansdown's Susannah Streeter said: "Although the more cautious stance from the Federal Reserve didn't blow Wall Street off course, with the S&P 500 breaking out to a record level, there is set to be more wariness creeping in today. Investors are mulling the impact of interest rates staying higher for longer, given that policymakers expect US trade policy to push up the price of consumer goods.
"However, although a big pause in rate cuts is expected, the general trajectory for interest rates this year is expected to be on a downwards path. In the UK investors are also pricing in two to three more interest rate cuts this year, despite the surprise jump in inflation to 3%. Inflation currently has the jitters, but the struggling economy is expected to eventually put a dampener on prices."
On the macro front, weekly jobless claims figures will be out at 1330 GMT, as will the Philadelphia Fed's manufacturing index.
In the corporate space, shares in retail giant Walmart traded lower prior to the open after warnings that profit growth would slow despite continued sales growth.
Reporting by Iain Gilbert at Sharecast.com
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