Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
US pre-open: Futures higher as focus remains on Federal Reserve
(Sharecast News) - Wall Street futures had major indices recording early gains ahead of the bell on Monday as the final full trading week for the year gets set to begin. As of 1320 GMT, Dow Jones futures were up 0.20%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.21% and 0.06% firmer, respectively.
The Dow closed 56.81 points higher on Friday as market participants turned their attention to the US central bank.
Investor sentiment turned positive late last week after Federal Reserve chairman Jerome Powell seemingly indicated that three short-term interest rate cuts were expected to take place in 2024 amid cooling inflation.
On Friday, however, New York Fed president John Williams and Atlanta Fed head Raphael Bostic both pushed back on growing expectations for rate cuts. Williams said it was too early for policymakers to begin thinking about lowering borrowing costs as they consider whether policy was restrictive enough to get inflation back to its 2% target, while Bostic stated he foresees two rate cuts in 2024, starting from the third quarter.
Scope Markets' Joshua Mahony said: "A changeable outlook from the Federal Reserve has markets in a spin this morning, with the post-FOMC boost starts to fade. A surprisingly dovish outlook from Fed chair Powell seemingly set off the starting pistol for a year-end 'Santa rally'
"However, Friday's comments from Fed member Williams have brought markets back down to earth, warning that the Fed were in fact yet to even discuss rate cuts. With markets currently pricing the first of six 2024 rate cuts in March, we are seeing market confidence weaken as traders await greater clarity to clear up the current confusion."
On the macro front, the National Association of Housebuilders' December housing market index will be published at 1500 GMT.
No major corporate earnings were slated for release on Monday.
Reporting by Iain Gilbert at Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.