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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.