(For a Reuters live blog on U.S., UK and European stock
markets, click or type LIVE/ in a news window.)
*
Futures: Dow up 0.23%, S&P 500 up 0.07%, Nasdaq down 0.09%
Sept 15 (Reuters) - U.S. stock index futures were muted
on Monday, kicking off a week where the Federal Reserve is
expected to resume its interest rate cutting cycle.
The U.S. central bank is widely expected to ease its
monetary policy by 25 basis points on Wednesday after a series
of economic indicators pointed to a worsening jobs market in the
world's biggest economy.
Investors are pricing in a total of 69.6 points in monetary
policy easing by end-2025, data compiled by LSEG showed. That
implies nearly three quarter-point cuts this year - one at the
central bank's every remaining meeting.
"We do not think (Fed Chair) Jerome Powell this week would
be more dovish than the current market pricing ... but the risk
is that he puts more emphasis on inflation risks and the
uncertainty around the tariff impact which would tamper market
expectations of an overly dovish Fed," said Mohit Kumar,
economist at Jefferies.
Meanwhile, Nvidia ( NVDA ) fell 2.8% in premarket trading
after China's market regulator said it will continue an
investigation into the AI chip leader after preliminary finds
showed it had violated the country's anti-monopoly law. This
comes while representatives from the U.S. and China were engaged
in trade talks in Madrid, Spain.
At 05:26 a.m. ET, Dow E-minis were up 106 points,
or 0.23%, S&P 500 E-minis were up 4.75 points, or 0.07%
and Nasdaq 100 E-minis were down 23 points, or 0.09%.
Wall Street's three main indexes had logged weekly gains in
the previous session, with the Nasdaq and the S&P 500 hitting
intraday record highs on Friday as technology-linked stocks
remained resilient in a broadly declining market.
The indexes are in the positive territory so far in
September, a month considered bad historically for U.S.
equities. The benchmark S&P 500 has shed 1.5% on average in the
month since 2000, data compiled by LSEG showed.
Among the last datasets ahead of the Fed's September 16-17
meeting is a monthly reading of retail sales, due on Tuesday,
that could offer some more insights on the health of the U.S.
consumer, after a slightly hotter-than-expected inflation
reading last week.
In other moves, Warner Bros Discovery ( WBD ) tumbled 4.1%
before the bell. A source said on Thursday that Paramount
Skydance was preparing a bid for the Hollywood studio. Since
then the stock has surged more than 50%.