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Sep 18, 2019

U.S. Market | Futures Market Indicator: US futures point to slightly lower open

Silvia Amaro



U.S. stocks were set to open slightly lower Wednesday morning.
Around 6:35 a.m. ET, Dow futures indicated a negative open of more than 25 points. Futures on the S&P and Nasdaq were also marginally lower.
The Dow rose slightly on Tuesday as traders awaited a decision from the U.S. Federal Reserve.
The Fed is expected to cut rates by 25 basis points despite a recent fall in energy prices. This would be the bank’s second rate cut in a decade, after the central bank decided to lower the Fed Funds Rate to a range of 2.0%-2.25% in July. Chairman Jerome Powell will address the press on Wednesday at 2:30 p.m. ET.
The Federal Reserve meeting takes place a couple of days after President Donald Trump called the central bank “boneheads” and asked for zero or even negative rates.
Investors will also be looking at weekly mortgage applications at 7 a.m. and monthly housing starts due at 8:30 a.m. ET.
On the earnings front, General Mills will be reporting.

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