
Dow futures tick up with Fed pivot bets building, Nasdaq drifts
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US stock futures were edging slightly higher on Thursday, indicating a calm but cautiously optimistic start for markets as investors brace themselves for what could be a key week ahead.
Futures tied to the Dow Jones Industrial Average rose about 0.1%, while contracts for the S&P 500 and Nasdaq-100 hovered near flat after a modestly positive session on Wall Street Wednesday. The prevailing sentiment appears to stem from growing market conviction that the Federal Reserve may shift toward an easing stance at its upcoming policy meeting. According to CME FedWatch data, traders are now pricing in an ~89% chance of a rate cut.
All eyes now turn to upcoming economic data that could sway investor mood: weekly jobless claims are due Thursday morning, followed by the monthly report on job cuts, and Friday brings a delayed report on personal consumption expenditures â the Fedâs preferred inflation measure.
On the corporate front, the Dollar General got a boost â its shares climbed over 3% after a betterâthanâexpected earnings report and raised guidance. Meanwhile, Salesforce saw gains on strong demand for its AI products. In contrast, Snowflake slid by roughly 8% as waning productârevenue growth dampened enthusiasm around one of the marketâs highâfliers this year.
Elsewhere, currencies were in focus as the US dollar weakened broadly on the day â a move that left some strategists scratching their heads, given that there wasnât an obvious catalyst tied to economic data or centralâbank commentary.
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