07:18 AM EDT, 05/05/2025 (MT Newswires) -- Wall Street futures pointed lower pre-bell Monday as traders weighed major indices trading at five-week highs, and awaited policy clarification this week from the US central bank.

In the futures, the S&P 500 fell 0.8%, the Nasdaq declined 1%, and the Dow Jones was off 0.6%.

The Federal Reserve's regular two-day policy meeting will conclude on Wednesday, capped by a policy statement and release of related economic outlooks, at 2 pm ET. Pundits expect no change in the Fed's rates.

Ares Management (ARES) traded up 0.7% pre-bell after the investment manager reported Q1 earnings and revenue above Street views.

Palantir Technologies (PLTR), Vertex Pharmaceuticals (VTRX), and Williams (WMB) plan to report after the close, among others.

Blue chips Advanced Micro Devices (AMD), Anheuser-Busch Inbev (BUD), Arm (ARM), Arista Networks (ANET), Uber Tech (UBER), Ford (F), Walt Disney (DIS), Applovin (APP), DoorDash (DASH), and Shopify (SHOP) are slated to report later this week.

Oil issues were soft in the morning hours after OPEC+ agreed over the weekend to further boost output by 411,000 barrels a day, starting in June.

Asian exchanges traded unevenly overnight in a holiday-thinned session, with exchanges in Bangkok, Hong Kong, Seoul, Shanghai, and Tokyo shuttered.

European bourses edged lower midday on the continent.

On the economic calendar is the S&P Global PMI composite final for the US at 9:45 am ET, followed by the ISM Services, also for April, at 10 am.

In pre-market action, Bitcoin traded at $94,526, West Texas Intermediate crude oil traded lower at $57.53, and 10-year US Treasuries offered 4.32%. Spot gold traded for $3,314 an ounce.