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Investors Digest Fed Rate Path as US Equity Futures Turn Mixed Pre-Bell
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Investors Digest Fed Rate Path as US Equity Futures Turn Mixed Pre-Bell
Jun 13, 2024 5:32 AM

08:12 AM EDT, 06/13/2024 (MT Newswires) -- US equity futures were mixed Thursday after Federal Reserve officials kept the benchmark lending rate unchanged.

Dow Jones Industrial Average futures fell 0.3%, S&P 500 futures gained 0.1%, and Nasdaq futures were up 0.6%.

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 0.8% at $81.92 per barrel and US West Texas Intermediate crude down 1% at $77.75 per barrel, after government data showed a 3.7 million-barrel weekly increase in US crude stockpiles.

New unemployment claims, due for release at 8:30 am ET, are expected to drop to 225,000 in the week ended June 8 from 229,000 in the preceding week. Producer prices are expected to rise 0.1% in May following a 0.5% increase in April, according to estimates compiled by Bloomberg.

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