Stock futures tick higher as traders await Fed decision

U.S. Stock Futures Inch Higher as Investors Brace for Fed Decision, Powell Comments

Dow Jones Industrial Average futures rose by 42 points, or 0.1%. S&P 500 futures gained 0.1% while Nasdaq 100 futures climbed 0.2%.

The central bank is widely anticipated to hold the benchmark overnight borrowing rate steady in the 5.25% to 5.5% range, but investors will also parse through Fed Chair Jerome Powell’s commentary for clues into how soon rate cuts can be expected. As it is, the CME FedWatch Tool shows markets are pricing in odds of rate cuts beginning next spring.