U.S. Index Futures Fall Ahead of Federal Reserve Policy Meeting, Crude Oil Prices Decline
11 Junho 2024 - 8:07AM
IH Market News
U.S. index futures are falling in pre-market trading this
Monday, amid anticipation for the Federal Reserve’s two-day
monetary policy meeting, which begins today.
As of 6:36 AM, Dow Jones futures (DOWI:DJI) fell 133 points, or
0.34%. S&P 500 futures declined 0.25%, and Nasdaq-100 futures
lost 0.27%. The yield on the 10-year Treasury note stood at
4.426%.
In the commodities market, West Texas Intermediate crude for
July fell 0.44% to $77.40 a barrel. Brent crude for August fell
0.37%, near $81.33 a barrel. Iron ore traded on the Dalian exchange
fell 4.16% to $111.07 per metric ton.
European markets are trading lower, with investors in a holding
pattern ahead of the upcoming Federal Reserve meeting and the
release of U.S. inflation data. In the UK, employment data released
on Tuesday showed a 0.6% increase in salaried employees in May
compared to the previous year. However, the unemployment rate rose
to 4.4% from 4.3% in the previous quarter.
Asian markets closed mixed, reflecting investor caution ahead of
the release of key inflation data from China and the United States,
as well as monetary policy announcements from the U.S. and Japan
central banks. In Shanghai, the SE index fell 0.76%, while Japan’s
Nikkei posted a slight gain of 0.25%. Hong Kong’s Hang Seng index
dropped 1.04%, while South Korea’s Kospi inched up 0.15%.
Australia’s ASX 200 recorded a 1.33% decline.
After a tepid performance in recent sessions, U.S. stock markets
fluctuated without a clear direction on Monday, closing with slight
gains. The Nasdaq and S&P 500 indices reached new records, with
the Dow Jones rising 69.05 points to 38.868,04. The S&P 500
gained 13.80 points to 5.360,79, and the Nasdaq increased 59.40
points, closing at 17.192,53. Caution dominated the market ahead of
crucial events, including the Federal Reserve meeting and the
release of important economic reports.
Academy Sports (NASDAQ:ASO), Motorcar
Parts of America (NASDAQ:MPAA), Lilium
(NASDAQ:LILM), Zeekr (NYSE:ZK), and others are
scheduled to report their quarterly earnings before the market
opens.
After the close, results are expected from
Oracle (NYSE:ORCL), Casey’s
(NASDAQ:CASY), PetMed Express (NASDAQ:PETS),
Rubrik (NYSE:RBRK), Mama’s
Creations (NASDAQ:MAMA), Vistagen
Therapeutics (NASDAQ:VTGN), and more.
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