US Stock Futures Dip as Investors Await FOMC Decision
Team FS
19/Mar/2024
Key Points:
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Caution Prevails: US stock futures edged lower on Tuesday, with S&P 500 contracts down 0.3%, Dow Jones slipping 40 points, and Nasdaq 100 declining by 0.6%. Traders are exercising caution ahead of the Federal Open Market Committee (FOMC) monetary policy decision scheduled for the next day.
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Tech Giants Face Pressure: Pre-market trading saw Nvidia's shares down by 1.7% following underwhelming announcements at the company's conference. Similarly, Apple (-0.2%) and Alphabet (-0.9%) experienced declines after previous gains, while Tesla fell by 1.2% before the opening bell.
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Positive Moves: On a positive note, Unilever witnessed a nearly 3% increase in its stock value after unveiling plans for a spin-off of its ice cream business and announcing a restructuring, signaling potential growth opportunities.
The US stock market kicked off with a cautious tone as futures pointed to a slight downturn. Investors are treading carefully amidst anticipation surrounding the Federal Open Market Committee's (FOMC) upcoming monetary policy decision. S&P 500 contracts slipped by 0.3%, with the Dow Jones losing 40 points, and Nasdaq 100 declining by 0.6%.
Tech giants faced pressure in pre-market trading, with Nvidia's shares dropping by 1.7% due to disappointing announcements at its recent conference.
Similarly, Apple and Alphabet saw slight decreases after previous gains, while Tesla fell by 1.2% before the market opened.
However, there were positive movements as well, with Unilever's stock surging nearly 3% following its announcement of plans to spin-off its ice cream business and undergo restructuring, potentially signaling promising developments for the company. Investors remain vigilant as they await further guidance from the FOMC meeting.
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