Dow futures higher as investors await Fed meeting

U.S. stock index futures were higher on Monday morning, as investors look ahead to a crucial Federal Reserve meeting this week.

At around 01:30 a.m. ET, Dow futures rose 70 points, indicating a positive open of more than 89 points. Futures on the S&P and Nasdaq were both trading higher.

Traders are largely focused on monetary policy with a Federal Reserve meeting due to start Tuesday. Market expectations point to the Fed cutting interest rates this year, but several analysts told CNBC that they do not see a change in monetary policy happening this week.

Other Fed watchers also told CNBC they see Chairman Jerome Powell dropping the word “patient” from his statement and opening the door to a cut next month.

Meanwhile, President Trump warned over the weekend that if he is not re-elected in 2020 there will be “a market crash the likes of which has not been seen before.”

In terms of data, investors will be looking ahead to Empire State manufacturing data at 8:30 a.m. ET; NAHB housing index due at 10 a.m. ET and TIC data at 4 p.m. ET.

There are no corporate earnings to note.

 

Leave a comment