US pre-open: Futures flat after S&P and Nasdaq hit fresh highs.


Wall Street futures were pointing to a broadly flat open ahead of the bell on Thursday after yesterday's mostly positive session.

New York Stock Exchange

Source: Sharecast

As of 1235 BST, Dow Jones and S&P 500 futures were up 0.04% and 0.01%, respectively, while Nasdaq futures had the index opening 0.02% lower.

The Dow closed just 1.20 points lower on Wednesday, while the tech-heavy Nasdaq closed above 23,000 for the first time.

Futures were little changed priot to the open on Thursday, following a strong session that saw fresh all-time closing highs for the S&P 500 and Nasdaq, after investors digested minutes from the Federal Reserve's September meeting, which confirmed a 25-basis point rate cut and revealed a split among policymakers over the path ahead.

While some officials favoured two further cuts this year, others backed just one, amid concerns over labour market softness and persistent inflation. Despite the lack of clarity, exacerbated by the delayed September payrolls report due to the government shutdown, rate cut expectations have firmed, helping to support equity markets.

In the corporate space, PepsiCo traded higher in pre-market action after the snacks and beverage behemoth reported third-quarter results that beat analyst expectations, while shares in Delta Air Lines also flew higher after the airline issued strong guidance and posted Q3 numbers that came in ahead of expectations.

Levi Strauss will report earnings after the close.

No data points were scheduled for release on Thursday, with the ongoing Federal government shutdown stretching into its ninth day, but traders will keep an eye on comments from Federal Reserve chair Jerome Powell, as well as speeches from the likes of Michelle Bowman and Mary Daly throughout the day.

Reporting by Iain Gilbert at Sharecast.com

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.