United States stock futures ticked higher on Wednesday evening (Thursday AEST) following the Federal Reserve’s widely expected 25 basis points interest rate cut.
At 8:50 am AEST (10:50 pm GMT), Dow Jones Industrial Average futures were up 0.2%, while S&P 500 futures and Nasdaq 100 futures each added 0.3%.
In extended trading, Cracker Barrel Old Country Store shares tumbled 9.1% after the restaurant chain posted fourth-quarter earnings per share (EPS) of $0.74, below market expectations of $0.77. Revenue reached $868 million, beating the $854.8 million expected.
IONQ advanced 6.3% after announcing a memorandum of understanding with the U.S. Department of Energy to support the development and deployment of quantum technologies in space.
Nucor slid 4.7% after issuing third-quarter earnings guidance that fell short of market expectations.
The futures moves follow a mixed session on Wednesday. The Dow Jones Industrial Average rose 0.6%, while the S&P 500 and Nasdaq Composite slipped 0.1% and 0.3%, respectively.
Fed Chair Jerome Powell signalled a cautious policy stance in his post-meeting press conference, describing the decision as a “risk management” cut rather than the beginning of a deeper easing cycle.
On the data front, United States single-family housing construction fell 7.0% in August to an annual rate of 890,000 units, its lowest level in more than two years, while building permits declined 3.7% to 1,312,000, according to the U.S. Census Bureau and Department of Housing and Urban Development.
