Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

U.S. Stock Futures Mixed as Fed Holds Rates

Published 29/07/2021, 10:14 am
Updated 29/07/2021, 10:15 am
© Reuters.

By Oliver Gray

Investing.com - U.S. stock futures remained little changed in early APAC deals on Thursday, following a mixed session yesterday as Federal Reserve officials held the official cash rate steady between zero and 0.25%. Fed Chairman Jerome Powell cautioned in the following press conference that while the economy is recovering, policymakers have yet to see substantial further progress toward its employment and price stability goals, signaling that officials may wait until November before formally announcing a taper.

During the regular session on Wednesday, the Dow dipped 127.59 points, or nearly 0.4%, to 34930.93. The S&P 500 remained little changed at 4400.64 while the Nasdaq Composite added 0.7% to 14762.58.

Among stocks, PayPal Holdings Inc (NASDAQ:PYPL) lost 3.45% as second-quarter earnings and third quarter guidance came in below market expectations, while Facebook (NASDAQ:FB) fell 5.29% despite reporting greater earnings and revenue than expected, warning of significant growth slowdown in revenue growth. Meantime, Amazon (NASDAQ:AMZN) and Pinterest are set to report earnings later in the day, while latest readings on initial jobless claims and pending home sales will also be closely watched for clues on the pace of economic recovery.

On the bond markets, 10-year Treasury yields were steady at 1.238%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.