U.S. Stock Futures Hold Steady Ahead of Fed Meeting

U.S. stock index futures saw minimal movement on Monday, as investors awaited a key Federal Reserve meeting expected to kick off a rate-cutting cycle. As of 5:50 AM ET (9:50 GMT), Dow Jones Futures rose 60 points (0.1%), S&P 500 Futures edged up by 3 points (0.1%), while Nasdaq 100 Futures slipped 13 points (0.1%).

The market was also cautious after reports surfaced about a second assassination attempt on Republican presidential candidate Donald Trump. Fortunately, Trump was unharmed.

Rate Cut Expectations

The Fed is expected to announce its first rate cut this week, with traders split between a 50% chance of a 50-basis point cut and a 50% chance of a 25-basis point cut, according to CME Fedwatch. This move will likely set the tone for the central bank’s monetary easing strategy, as it balances concerns over a slowing economy and labor market, despite inflation remaining sticky.

Lower rates are seen as favorable for equities, especially in the coming months.

Stock Market Near Record Highs

Wall Street saw strong gains last week, with the S&P 500 jumping 4% and the Dow rising 2.6%, both nearing record highs. The NASDAQ surged nearly 6%, buoyed by tech stocks and renewed interest in artificial intelligence, though it still remains below its earlier highs this year.

Corporate Updates: Pfizer & Boeing

Pfizer shares rose 0.6% in premarket trading after its experimental drug showed positive results in a cancer-related trial. Meanwhile, Boeing stock was up 0.3%, recovering slightly from Friday’s drop as workers continued their strike, with negotiations set to resume Tuesday.

Crude Oil Prices Rise

Crude oil prices gained ground ahead of the Fed meeting. Brent crude was up 0.5% to $71.98 per barrel, and U.S. WTI futures rose 0.6% to $68.18 per barrel. Lower rates are expected to support economic growth and fuel demand, though concerns remain about China’s slowing economy and the resumption of oil production in the Gulf of Mexico after Hurricane Francine.