Fed Meeting Looms, Driving Mixed Premarket Activity for US Equity Futures

MT Newswires Live
16 Sep 2024

US equity futures were mixed before the opening bell on Monday as traders awaited the Federal Reserve's regular meeting to discuss monetary policy.

Dow Jones Industrial Average futures gained 0.2%, S&P 500 futures slipped 0.1%, and Nasdaq futures declined 0.5%.

The policy-setting Federal Open Market Committee is scheduled to start its two-day meeting on Tuesday.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.3% at $72.52 per barrel and US West Texas Intermediate crude 1.4% higher at $68.71 per barrel.

The Empire State Manufacturing Index, released at 8:30 am ET, came in at 11.5 in September after August's negative 4.7 reading, compared with estimates compiled by Bloomberg for negative 4.0.

In other world markets, Japan's Nikkei closed 0.7% lower, Hong Kong's Hang Seng ended 0.3% higher, while the Chinese market was closed for a holiday. Meanwhile, the UK's FTSE 100 was down 0.02% and Germany's DAX index was 0.3% lower in Europe's early afternoon session.

In equities, shares of NuCana (NCNA) were up more than 200% pre-bell after the company said that a combination of NUC-7738 and pembrolizumab led to prolonged progression-free survival in a phase 2 trial for patients with metastatic melanoma.

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