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US STOCKS-US futures drop on fading December rate-cut expectations
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US STOCKS-US futures drop on fading December rate-cut expectations
Nov 14, 2025 3:03 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 0.2%, S&P 500 0.2%, Nasdaq 0.4%

Nov 14 (Reuters) - U.S. stock index futures dipped on

Friday, signaling a fresh round of selloff on Wall Street after

hawkish comments from Federal Reserve officials added to doubts

about an interest rate cut in December.

The three major U.S. stock indexes posted their steepest

daily percentage declines in over a month on Thursday, with

heavyweight tech stocks leading the slump, after a growing

number of Fed policymakers signaled reticence on further easing.

The longest U.S. government shutdown in history, which ended

on Thursday, has led to an economic data drought, causing the

Fed and traders to fly blind and renewing concerns about the

health of the labor market and the inflation trajectory.

At 5:30 a.m. ET, Dow E-minis were down 79 points, or

0.17%, S&P 500 E-minis were down 14.75 points, or 0.22%

and Nasdaq 100 E-minis were down 117 points, or 0.47%.

Despite the reopening, some data gaps are likely to be

permanent with the White House casting doubt on employment and

Consumer Price Index reports for October ever being released.

"Market sentiment is swinging wildly this week, reflecting a

clash of narratives that has left investors struggling to find

direction," said Daniela Hathorn, senior market analyst at

Capital.com.

Fed speakers on Thursday added to dimming expectations of

policy easing. St. Louis President Alberto Musalem said caution

was needed, while Cleveland's head, Beth Hammack, said

restrictive policy would help tackle inflation.

Minneapolis President Neel Kashkari told Bloomberg News he

was undecided before next month's meeting and had been against

October's rate cut.

Market expectations for a 25 point rate cut in December fell

to 49.6%, from last week's 67%, according to CME Group's

FedWatch tool.

Technology and AI stock valuation worries have weighed on

markets in recent weeks, with the Nasdaq set for a second

consecutive week of losses.

The CBOE volatility index, Wall Street's fear gauge, touched

a one-week high earlier and was last up 1.11 points at 21.1.

Applied Materials ( AMAT ) shares dropped 4.9% in premarket

trading after the company flagged expectations of weaker China

spending next year on tighter U.S. export control curbs.

Other chipmakers also fell, with AI bellwether Nvidia ( NVDA )

down 1.1%. Broadcom ( AVGO ), Intel ( INTC ) and

Advanced Micro Devices ( AMD ) fell between 0.4% and 0.9%.

Nvidia's ( NVDA ) results next week could further break or make the

rally that has been the main driver behind indexes hitting

all-time record highs this year.

Warner Bros Discovery ( WBD ) shares rose 3.7%. The

entertainment company said it had amended CEO David Zaslav's

employment agreement amid a strategic review of its business.

Cidara Therapeutics ( CDTX ) jumped 87% after a Financial

Times report that Merck ( MRK ) was nearing a deal to buy the

biotechnology company.

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