US stocks set to open lower after Fed says it sees 'further gradual increases' in rates

Friday, 9 November 2018 17:31 WIB

Indeks berjangka ASIndeks berjangka Standard & Poor’s 500Kontrak Dow Jones Industrial AverageNasdaq-100 futures


U.S. stock futures pointed to a negative open on Friday as investors digested the latest comments from the Federal Reserve.

As of 4:40 a.m. ET, Dow Jones Industrial Average futures were seen down by 79 points, indicating a negative open of -57 points. S&P 500 and Nasdaq futures were also in the red.

The Fed on Thursday decided to leave its benchmark interest rate unchanged, as was expected, but comments by the U.S. central bank suggested it was on course to continue hiking rates. Although a statement released by the institution noted a moderation in business investment, it said the bank still expects "further gradual increases" in the prime lending rate. Traders had been on edge last month due to concerns over the Fed's rate hiking path.

Traders are also keeping an eye on the U.S. political situation, after midterm elections on Tuesday saw the Democratic Party regain control of the House of Representatives for the first time since 2010, while Republicans made gains in the Senate.

Source: CNBC


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