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US STOCKS-Futures slip after S&P 500, Nasdaq's strong close
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US STOCKS-Futures slip after S&P 500, Nasdaq's strong close
Dec 12, 2024 3:11 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Futures down: Dow, S&P 500 0.15% each, Nasdaq 0.24%

Dec 12 (Reuters) - U.S. stock index futures took a pause

on Thursday after the S&P 500 and Nasdaq ended the previous

session on a positive note, while investors awaited some more

economic data on the day.

The Nasdaq soared past the 20,000 mark for the first time on

Wednesday as the technology rally showed no signs of a halt,

while the S&P 500 closed at its highest in nearly a week after

an in-line inflation reading locked in a 25 basis point cut by

the Federal Reserve at its Dec. 17-18 meeting.

Trader bets on the cut next week now stand at over 98%,

according to CME's FedWatch Tool. They had risen after a jobs

report on Friday that showed unemployment rose last month

despite a surge in jobs growth.

However, bets also indicate expectations of a pause in

January after several Fed officials last week urged caution over

the pace of monetary policy easing as the economy remained

resilient.

Data-wise, a November reading of producer prices is due at

8:30 a.m. ET on the day that could further shed light on the

state of the economy, alongside a weekly reading of jobless

claims.

At 5:25 a.m. ET, Dow E-minis were down 65 points,

or 0.15%, S&P 500 E-minis were down 9.25 points, or

0.15% and Nasdaq 100 E-minis were down 53 points, or

0.24%.

Wall Street's main indexes have set new record highs

multiple times this year, thanks to a rally driven by

heavyweight tech stocks that have exploited the euphoria around

artificial intelligence and the Fed's interest rate cuts.

U.S. equities capped off a remarkable November after Donald

Trump's victory in the presidential election on the prospects of

business-friendly policies adding to corporate profits, and have

kicked off December on a broadly positive note.

However, analysts say that the incoming administration's

potential policies on tariffs could stoke fresh inflationary

pressures.

Among significant premarket movers, Adobe slid

10.1% after the Photoshop maker forecast fiscal 2025 revenue

below Wall Street expectations on Wednesday.

Chewy was off 3% after its top stakeholder

announced a stock offering to reduce its stake in the pet

products retailer.

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