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
Guides
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
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 point to further gains as markets eye rate cuts
(Sharecast News) - US stock futures were pointing to more gains on Wall Street on Friday, with the S&P 500 and Nasdaq set for their fifth straight session in positive territory ahead of next week's anticipated rate cut by the Federal Reserve. By 0517 ET, futures on the Dow, S&P 500 and Nasdaq were up between 0.1% and 0.2%.
Helping sentiment ahead of the opening bell were comments by a former top US central bank official who said the size of the Fed's first interest rate cut in the current cycle was still up in the air.
Markets widely expect the Federal Funds Rate to be reduced by 25 basis points from the current 5.25%-5.50% range - where it stayed since July 2023 - when policymakers meet on 17-18 September, with two further cuts likely this year.
However, in remarks made at a forum organised by The Breton Woods Committee, former New York Fed chief William Dudley said he saw a "strong" case for a 50 basis-point reduction. "I know what I'd be pushing for," Dudley said, according to Bloomberg. As recently as the previous week, Dudley had been anticipating a 25bp cut.
The former central banker also highlighted how "very unusual" it was for there to be this level of uncertainty on the outcome of a Fed meeting this near to the next policy announcement. However, he added that the Fed usually did not like to surprise markets.
Friday's agenda will likely focus on US consumer confidence data, with the University of Michigan's sentiment index for September expected to inch higher to 68.0 from 67.9. The Department of Labor will also release import price figures for the month of August.
Stocks to watch on Friday include software giants Adobe and Oracle following the release of their quarterly earnings after the closing bell on Thursday.
Adobe futures were down 8% after the Photoshop and InDesign software group underwhelmed with its guidance for the fourth quarter, while Oracle was rising 6% after lifting its medium-term revenue guidance above analysts' forecasts.
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, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
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.
