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US pre-open: Futures mixed as Fed's latest policy update remains in focus

By Iain Gilbert

Date: Friday 18 Jun 2021

US pre-open: Futures mixed as Fed's latest policy update remains in focus

(Sharecast News) - Wall Street futures were pointing to a mixed open ahead of the bell on Friday as market participants continued to digest the Federal Reserve's latest policy update.
As of 1215 BST, Dow Jones futures were down 0.26%, while S&P 500 futures were 0.15% lower and Nasdaq-100 futures had the index coming out the gate 0.14% stronger.

The Dow closed 210.22 points lower on Thursday, extending losses recorded in the previous session.

Traders were still mulling over a move by Central bankers in the US to nudge up their individual projections for short-term interest rates in 2022 and 2023 at their two-day policy meeting, with the median projection of participants on the Federal Open Market Committee now being for two hikes in 2023.

However, Fed chair Jerome Powell stated the projections should be taken with "a big grain of salt" and said the central bank would continue to monitor the US economic recovery and vowed to provide "advanced notice" before any updates regarding the tapering of the central bank's bond-buying program.

In the corporate space, Adobe shares were up in pre-market trading after posting quarterly results that topped earnings and revenue estimates, while Nvidia shares also traded higher.

No major data points were slated for release on Friday.


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