US stock futures steady ahead of presidential election and Fed meeting

From Investing.com: 2024-11-04 18:55:24

U.S. stock index futures rose slightly, recovering from recent losses ahead of the presidential election and Fed meeting. Futures steadied after Wall Street indexes fell, influenced by strong inflation readings and anticipation of key events. Dow Jones rose 0.1% to 5,748.0 points, S&P 500 rose 0.1% to 20,110.0 points, Nasdaq rose 0.1% to 41,980.0 points.

Trump and Harris head for a tight presidential election, with recent polls showing a neck-and-neck race. Trump expected to roll out inflationary policies and tough trade tariffs on China, impacting big tech sector. Harris proposed tax increases on the wealthy and businesses, while easing burdens on families.

Focus on Fed meeting this week, expected to cut interest rates. Data showing sticky inflation and strong U.S. economy raise doubts on the extent of rate cuts. Weak jobs data suggests Fed may lean towards more easing. All eyes on Chair Jerome Powell’s address on future rate cuts.

Wall Street indexes stuck in a tight range, nursing losses from last week. S&P 500 fell 0.3% to 5,712.69 points, Dow Jones fell 0.3% to 18,182.93 points, Nasdaq fell 0.6% to 41,794.60 points. Mixed Q3 earnings continue to weigh, with Berkshire Hathaway falling 2% and Palantir Technologies rallying nearly 13%. Dollar Tree Inc rose 6.3% after CEO resignation news.



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