U.S. stock futures showed minimal change Thursday night after failing to extend Wednesday’s rally fueled by the Federal Reserve. Futures linked to the S&P 500 remained largely unchanged. Dow Jones Industrial Average futures decreased by 19 points, or 0.04%, while Nasdaq 100 futures dipped 0.02%. This follows a decline in the major averages on Thursday, with the S&P 500 dropping 0.2% and the Nasdaq Composite falling 0.3%. The 30-stock Dow lost 11.31 points, or 0.03%. Despite the Fed maintaining its forecast for two rate cuts this year, it raised inflation outlooks and reduced economic growth expectations, raising concerns of stagflation. Uncertainty surrounding President Donald Trump’s tariff policies has unsettled stocks, with Fed Chair Jerome Powell noting tariffs could delay inflation progress. Companies are increasingly expressing confusion and uncertainty regarding planning, capital spending, and hiring decisions, according to Michael Green, chief strategist at Simplify Asset Management. The S&P 500 is on pace for a 0.4% gain week-to-date, potentially ending a four-week losing streak. The Dow is set for a 1.1% gain, marking its best weekly performance since late January. However, the Nasdaq remains down about 0.4% in the period, heading for its fifth consecutive losing week.
— news from CNBC
