At, we are your go-to destination for all things related to the stock market. Whether you're a seasoned investor or just starting, our platform offers valuable insights, expert analysis, and up-to-date information to help you make informed decisions. Explore our comprehensive articles and guides covering various investment strategies, market trends, and stock analysis. Our team of financial experts curates the latest news and developments to keep you ahead of the curve in the dynamic world of finance.

S&P, Nasdaq, Dow futures edge down as Fed enters quiet period

New York Stock Exchange Opens To Begin The Week

Spencer Platt/Getty Images News

Stock index futures pointed to a lower open Monday in what is expected to be a relatively quiet week for stocks ahead of next week’s Fed meeting.

S&P futures (SPX) -0.5%, Nasdaq 100 futures (NDX:IND) -0.4% and Dow futures (INDU) -0.4% were down.

Oil (CL1:COM) was higher. OPEC+ kept its output unchanged at the latest meeting, but Russia said it won’t accept a G7 oil price cap.

The 10-year Treasury yield (US10Y) was up 1 basis point to 3.50%. The 2-year yield (US2Y) rose 4 basis points to 4.32%.

It’s “fascinating that at the moment the market is focusing squarely on the very strong likelihood that we’ll ratchet down to ‘only’ a 50bps hike next week and extrapolating that level of dovishness rather than focus on any risks that the terminal rate could end up being nearer say 6% than 5%,” Deutsche Bank’s Jim Reid said. “Indeed Larry Summers was doing the rounds over the weekend suggesting that markets were likely under-pricing terminal and seemingly being more comfortable suggesting a peak nearer 6 than 5%, even if he wasn’t specific over a particular number.”

On the economic calendar, the November ISM services index comes out shortly after the start of trading. Economists expect a dip to 53.3.

At the same time October factory orders arrive, with the forecast for a 0.7% rise, up from 0.3% the month before.

Among active stocks, Wynn Resorts rose as Chinese cities eased some COVID restrictions.

Read More: S&P, Nasdaq, Dow futures edge down as Fed enters quiet period

You might also like