US Tech Stocks Set for a Pause; Fed Policy in Focus
US stock index futures fell, causing a rally in leading technology stocks to pause, as investors await a raft of economic data and the Federal Reserve’s interest rate decision.
Futures on the S&P 500 were down 0.3% at 5:42 a.m. in New York, while tech-heavy Nasdaq 100 futures were little changed after the index posted back-to-back records.
CNH Industrial shares edged up in premarket trading after the machine-tool company was upgraded to overweight from equal-weight at Morgan Stanley, which forecast that 2025 will provide clarity on the major equipment cycle.
The US stock rally faltered last week as investors awaited further clues on the health of the economy and the Fed’s policy outlook. Swap traders are now almost fully pricing in a 25-basis-point rate cut from the central bank at its meeting this week.
Source: Bloomberg
