08:05 AM EDT, 09/20/2024 (MT Newswires) -- US equity futures were trending downward in Friday's premarket activity as traders tempered their enthusiasm and took profits following Wednesday's 50-basis-point rate cut by the Federal Reserve.

Dow Jones Industrial Average futures slipped marginally, S&P 500 futures were down 0.3%, and Nasdaq futures lost 0.4%.

Investors expect no major economic news today. The Baker Hughes North American rig count, measuring weekly changes in the number of active oil and gas rigs, is set to be released at 1 pm ET.

Patrick Timothy Harker, president of the Federal Reserve Bank of Philadelphia, is scheduled to speak on the US economy in the afternoon.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.4% at $74.51 per barrel and US West Texas Intermediate crude 0.5% lower at $71.72 per barrel.