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Applied Materials ( AMAT ) down after forecasting Q1 revenue below

estimates

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Domino's Pizza gains after Berkshire Hathaway ( BRK/A ) takes stake

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Futures down: Dow 0.38%, S&P 500 0.54%, Nasdaq 0.78%

(Updated at 07:02 a.m. ET/ 1202 GMT)

By Lisa Pauline Mattackal and Purvi Agarwal

Nov 15 (Reuters) - U.S. stock index futures fell on

Friday after Federal Reserve Chair Jerome Powell said there was

no need to rush interest-rate cuts, pushing up bond yields and

pressuring rate-sensitive equities.

In a speech on Thursday, Powell pointed to ongoing economic

growth, a solid job market, and inflation above the Fed's 2%

target as reasons the central bank can afford to be careful as

they determine the pace and scope of rate cuts going forward.

U.S. Treasury yields rose broadly after Powell's comments,

while Wall Street's main indexes closed lower.

"Fed Chair Powell telegraphed news that markets didn't want

to hear but news that was clearly manifest in the last CPI

report, that the Fed cannot yet declare victory in its campaign

to quell inflation," said Quincy Krosby, chief global strategist

for LPL Financial.

Traders increased bets that the Fed will keep rates on hold

at its December meeting - pricing in a 41.3% chance, compared

with 14% a month ago, according to the CME FedWatch tool. They

now expect only about 73 basis points of total easing by the end

of 2025, per LSEG calculations.

All three major U.S. stock indexes are set for weekly

losses, as a sharp post-election rally has fizzled out with

market focus shifting to the state of the economy and potential

inflation risks under a second Donald Trump presidency.

Stocks of vaccine makers lost ground after the

President-elect selected Robert F Kennedy Jr, who has spread

misinformation on vaccines, to head the Department of Health and

Human Services.

BioNTech dropped 2.5%, while Moderna ( MRNA ) and

Novavax ( NVAX ) fell more than 1% in premarket trading. Pfizer ( PFE )

dipped 0.5%.

Dow E-minis were down 168 points, or 0.38%, S&P 500

E-minis were down 32 points, or 0.54%, and Nasdaq 100

E-minis were down 164.25 points, or 0.78%.

Futures tracking the more rate-sensitive, small-cap Russell

2000 dropped 0.1%.

Megacap stocks also fell. Nvidia ( NVDA ) edged 0.3% lower,

Apple ( AAPL ) dropped 0.8% and Alphabet was down

0.5%.

Powell's comments come after both consumer and producer

prices data this week pointed to persistent inflation.

Friday's October retail sales data, due at 8:30 a.m. ET,

will provide more signals on how consumers have coped with

rising prices.

Import and export prices as well as industrial production

data are on deck through the day, while remarks from Fed

officials Austan Goolsbee, Susan Collins and John Williams are

also expected.

Applied Materials ( AMAT ) fell 8% after the chipmaking

equipment supplier forecast first-quarter revenue below Wall

Street estimates on Thursday.

Warren Buffett's Berkshire Hathaway ( BRK/A ) said on

Thursday it made new investments in Domino's Pizza and

sold its entire stake in cosmetics chain Ulta Beauty ( ULTA ).

Domino's shares were up 7.5%, while Ulta was down 4.9%.

U.S.-listed shares of Chinese e-commerce giant Alibaba

gained 4.7% despite missing quarterly revenue

estimates.