08:04 AM EDT, 03/20/2025 (MT Newswires) -- US equity futures were lower pre-bell Thursday as traders digested the latest rate decision and outlook from the Federal Reserve.

The Dow Jones Industrial Average futures fell 0.4%, S&P 500 futures declined 0.4%, and Nasdaq futures were down 0.6%.

The Federal Open Market Committee on Wednesday left its benchmark lending rate unchanged at a range of 4.25% to 4.50%. The Fed also maintained its policy outlook through 2027, with a median federal funds rate target of 3.9% in 2025.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.3% at $70.99 per barrel and US West Texas Intermediate crude 0.3% higher at $67.13 per barrel.

New unemployment claims, scheduled for release at 8:30 am ET, are seen rising to 224,000 in the week ended March 15 from 220,000 in the preceding week. The Philadelphia Fed manufacturing index is expected to come in at 8.8 in March versus 18.1 previously, according to estimates compiled by Bloomberg.

Existing home sales, due at 10 am ET, is seen dropping to a 3.95 million annual rate for February from 4.08 million previously.