financetom
Market
financetom
/
Market
/
Fed Rate Path Drives Mixed Premarket Action for US Equity Futures
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Fed Rate Path Drives Mixed Premarket Action for US Equity Futures
Jun 13, 2024 6:32 AM

09:06 AM EDT, 06/13/2024 (MT Newswires) -- US equity futures were mixed ahead of Thursday's opening bell after Federal Reserve officials kept the benchmark lending rate unchanged.

Dow Jones Industrial Average futures slipped 0.2%, S&P 500 futures gained 0.2%, and Nasdaq futures were up 0.7%.

On Wednesday, the central bank's Federal Open Market Committee held interest rates steady at 5.25% to 5.50%, while indicating only one possible rate cut in 2024 compared with the three indicated in March.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.4% at $82.30 per barrel and US West Texas Intermediate crude down 0.5% at $78.14 per barrel, after government data showed a 3.7 million-barrel weekly increase in US crude stockpiles.

New unemployment claims, released at 8:30 am ET, rose to 242,000 in the week ended June 8 from 229,000 in the preceding week, compared with estimates compiled by Bloomberg for a drop to 225,000. Producer prices fell 0.2% in May following a 0.5% increase in April, compared with estimates for a 0.1% uptick.

In other world markets, Japan's Nikkei closed 0.4% lower, Hong Kong's Hang Seng ended 1% higher, and China's Shanghai Composite finished 0.3% lower. Meanwhile, UK's FTSE 100 declined 0.3% and Germany's DAX index fell 1% in Europe's early afternoon session.

In equities, shares of Tesla (TSLA) were 7% higher pre-bell after CEO Elon Musk said company shareholders were voting in favor of his $56 billion pay package and a plan to move the firm's headquarters to Texas. Broadcom ( AVGO ) shares rose 14% after the company reported fiscal Q2 results that topped analysts' estimates and lifted its 2024 revenue guidance.

On the losing side, Dave & Buster's (PLAY) shares fell more than 7% after reporting lower fiscal Q1 adjusted profit and revenue. J.Jill (JILL) shares were down 17% after the company priced a stock offering at $31 per share for total expected gross proceeds of $31 million.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Sector Update: Health Care
Sector Update: Health Care
Jan 29, 2025
08:42 AM EST, 01/29/2025 (MT Newswires) -- Health care stocks were mixed premarket Wednesday as the Health Care Select Sector SPDR Fund (XLV) was down 0.3% and the iShares Biotechnology ETF (IBB) was up 0.4%. Teva Pharmaceutical Industries ( TEVA ) shares fell 5.9% after it reported lower Q4 non-GAAP earnings and net revenue. ...
Sector Update: Tech
Sector Update: Tech
Jan 29, 2025
08:41 AM EST, 01/29/2025 (MT Newswires) -- Technology stocks were mixed premarket Wednesday, with The Technology Select Sector SPDR Fund (XLK) down 0.4% and the SPDR S&P Semiconductor ETF (XSD) 0.8% higher. Manhattan Associates ( MANH ) shares were down more than 22% pre-bell Wednesday after the company reported Q4 earnings and sales that beat analyst expectations but the forecast...
Exchange-Traded Funds Edge Higher, Equity Futures Mixed Pre-Bell Wednesday as Investors Anticipate Fed's Rate Decision
Exchange-Traded Funds Edge Higher, Equity Futures Mixed Pre-Bell Wednesday as Investors Anticipate Fed's Rate Decision
Jan 29, 2025
08:23 AM EST, 01/29/2025 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.3% in Wednesday's premarket activity, as investors await the Federal Reserve's interest rate decision and assess strong earnings from semiconductor companies. US stock futures were mixed, with S&P...
Sector Update: Financial
Sector Update: Financial
Jan 29, 2025
08:37 AM EST, 01/29/2025 (MT Newswires) -- Financial stocks were edging lower pre-bell Wednesday, with The Financial Select Sector SPDR Fund (XLF) retreating 0.3%. The Direxion Daily Financial Bull 3X Shares (FAS) was 0.8% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.8%. LendingClub ( LC ) shares were down 19% pre-bell Wednesday after...
Copyright 2023-2026 - www.financetom.com All Rights Reserved