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Wall Street Awaits Post-Election Catalysts, Driving Muted Premarket Action for US Equity Futures
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Wall Street Awaits Post-Election Catalysts, Driving Muted Premarket Action for US Equity Futures
Nov 9, 2024 1:09 PM

09:04 AM EST, 11/08/2024 (MT Newswires) -- US equity futures were little changed before Friday's opening bell as traders searched for fresh cues after Donald Trump's win in the presidential election.

The Dow Jones Industrial Average futures marginally advanced, S&P 500 futures retreated slightly, and Nasdaq futures were down 0.2%.

Major indices rallied earlier in the week after Trump prevailed over Vice President Kamala Harris in the 2024 presidential election.

On Thursday, the Federal Open Market Committee cut its benchmark lending rate by 25 basis points to a new range of 4.5% to 4.75%, in-line with estimates compiled by Bloomberg.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.1% at $74.81 per barrel and US West Texas Intermediate crude 1.4% lower at $71.36 per barrel.

Consumer sentiment, scheduled for release at 10 am ET, is seen coming in at 71.0 in November versus a 70.5 reading in October, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 0.3% higher, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished 0.5% lower. Meanwhile, UK's FTSE 100 fell 0.6%, and Germany's DAX index was down 0.7% in Europe's early afternoon session.

In equities, shares of Sony ( SONY ) were 7% higher pre-bell after the company posted higher fiscal Q2 earnings and revenue and raised its fiscal 2025 revenue guidance. Five9 ( FIVN ) shares were up 24%, a day after the company reported higher Q3 adjusted earnings and revenue.

On the losing side, Fluor (FLR) shares fell 11% after the company reported lower Q3 adjusted earnings. Maravai LifeSciences ( MRVI ) stock was 35% lower after the company overnight reported weaker Q3 financial results.

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