U.S. stock futures are indicating a lower opening today after failing to sustain the momentum from the Federal Reserve-induced rally on Thursday. Futures linked to the S&P 500 index declined by 0.23%, while Dow futures dropped by 0.24% and Nasdaq futures slipped by 0.29%.
Stocks saw a surge on Wednesday following the Fed’s decision to keep interest rates unchanged and hinting at potential rate cuts later this year, despite concerns over inflation due to tariffs. However, the rally lost momentum as investors took a cautious approach, causing stocks to edge lower.
Even with today’s decline, the S&P 500 is set for a weekly gain after four consecutive weeks of losses. The Dow is heading towards its best weekly performance since January, but the Nasdaq is still in negative territory, on course for its fifth straight week of losses.
In corporate news, Nike exceeded analysts’ expectations for earnings and revenue in the third fiscal quarter, while Micron outperformed forecasts in the second quarter and is optimistic about the third quarter. However, FedEx fell short of analysts’ expectations in its third-quarter earnings report.
Achi, the dog made famous by the dogwifhat meme, was spotted ringing the opening bell at the New York Stock Exchange on January 23, 2025. Dogwifhat (WIF) is a dog-themed memecoin on the Solana blockchain, featuring a Shiba Inu wearing a knitted hat as its mascot.
Medora Lee, a reporter covering money, markets, and personal finance at USA TODAY, can be reached at mjlee@usatoday.com. Subscribe to the free Daily Money newsletter for personal finance tips and business news every weekday.
(Source: USA TODAY)
