Stocks - U.S. Futures Subdued After Fed Extends Rate Pause

Investing.com - U.S. futures pointed to a flat opening bell after the Federal Reserve said it will keep rates steady for the rest of the year and as news that the U.S. is likely to keep tariffs on China dampened trade sentiment.

The central bank scaled back on its rate hikes for 2019, with only one predicted for the following year as it remains patient on its monetary policy.

Dow futures fell 22 points to 0.1% by 6:40 AM ET (10:40 GMT), while S&P 500 futures lost half-a-point or 0.1% and tech-heavy Nasdaq 100 futures was up 9 points or 0.1%.

U.S. President Donald Trump said Wednesday that he will keep tariffs in place on Beijing until he is sure they will comply with trade agreements.

China confirmed Thursday that trade talks between the two largest economies in the world are set to continue over the coming weeks.

Micron (NASDAQ:MU) was among the top gainers in premarket trading, rising 2.9% after the semiconductor company forecast an increase in demand toward the end of the year. Advanced Micro Devices Inc (NASDAQ:AMD) gained 0.9% on the back of the news, while NVIDIA Corporation (NASDAQ:NVDA) was up 0.6%.

Retailer Williams-Sonoma Inc (NYSE:WSM) jumped 5.9% after its outlook for 2019 was better than expected, while Amazon.com (NASDAQ:AMZN) inched up 0.2%.

Financial stocks were hit by the dovish turn from the Fed, with JPMorgan Chase & Co (NYSE:JPM) and Goldman Sachs (NYSE:GS) dipping 0.1%, after heavier losses on Wednesday.

Sportswear maker Nike (NYSE:NKE) is also in focus Thursday, being due to report its fiscal third-quarter earnings after the close.

In commodities, gold futures jumped 1.2% to $1,317.35 a troy ounce, while crude oil declined 0.5% to $59.94, but still close to a 2019 high. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.4% to 95.595 after falling some 0.7% immediately after the Fed's announcements.

Related Articles

Stocks - U.S. Futures Rise as Investors Ignore Inverted Yield Curve

India stocks higher at close of trade; Nifty 50 up 1.14%

Ex-McKinsey chief Gupta says he was in solitary for weeks in U.S. jail