U.S. stock futures remained largely unchanged on Sunday night, following last week’s excitement over the Federal Reserve’s significant interest rate cut, which pushed major indices to record highs.
By 9:15 am AEST (11:15 pm GMT) Dow and S&P 500 futures traded flat while Nasdaq 100 futures ticked 0.1% higher.
The stock market rally was driven by the Federal Reserve’s decision to lower interest rates by 50 basis points, marking its first rate cut in four years. Although initial reactions were mixed, the market quickly gained momentum, with all three major indices posting gains of over 1% for the week.
The Dow closed Friday at a record high, surpassing the 42,000 mark, while the S&P 500 also achieved new milestones.
Looking ahead, investors are focusing on Monday’s economic data for insights into the performance of the service and manufacturing sectors.
Additionally, speeches from Federal Reserve officials—including Atlanta Fed President Raphael Bostic, Chicago Fed President Austan Goolsbee, and Minneapolis Fed President Neel Kashkari—are expected to provide further clues on the central bank’s future policy actions.
On the bond markets, 10-year and 2-year rates were at 3.741% and 3.597%, respectively.