Dow futures trade steady, Fed meeting in focus

September 18, 2023 08:30 AM AEST | By Investing

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Dow futures trade steady, Fed meeting in focus — Image source: Kalkine Media

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Investing.com - U.S. stock futures were trading slightly higher during Sunday's evening deals, following a negative week for major benchmarks as investors brace for the Federal Reserve’s interest rate decision later in the week.

By 6:30pm ET (10:30pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were each up by 0.1%.

Ahead in the week, market participants will be monitoring preliminary building permits and housing starts, Federal Reserve interest rate decision and statement, Philadelphia Fed manufacturing index, existing home sales and the S&P Global (NYSE:SPGI) services PMI as well as a speech from Fed Governor Cook.

During Friday's trade, the Dow Jones Industrial Average lost 288.9 points or 0.9% to 34,618.3, the S&P 500 lost 54.8 points or 1.2% to 4,450.3 and the NASDAQ Composite dipped 217.7 points or 1.6% to 13,708.3. For the week, the Dwo eased 0.1%, the S&P 500 dipped 0.7% and the NASDAQ lost 1.3%.

On the bond markets, United States 10-Year rates were near fresh 16-year highs of 4.338%.

This article first appeared in Investing.com

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