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Stock futures rise slightly ahead of Fed minutes release

Stock futures rose slightly in overnight trading on Tuesday as investors await the latest news on policy tightening from the Federal Reserve.

Minutes from Tuesday’s Fed meeting are expected to be released Wednesday afternoon. Investors brace for new details on the Fed’s plan to shrink its balance sheet.

Dow Jones Industrial Average futures rose about 30 points, or 0.1%. S&P 500 futures added 0.1% and Nasdaq 100 futures rose 0.1%.

The moves in equity futures came after the three major stock averages each fell in Tuesday’s regular session. The Dow Jones fell about 280 points, or 0.8%. The S&P 500 lost 1.3%, then the Nasdaq Composite fell 2.3%.

Stocks fell on Tuesday as Fed Governor Lael Brainard signaled support for higher interest rates and said a rapid reduction in the central bank’s balance sheet could begin as early as May.

“Getting inflation down is of paramount importance,” Brainard said during a Minneapolis Fed webinar. Brainard was named vice chairman of the Federal Open Market Committee.

San Francisco Fed President Mary Daly also promised future rate hikes while sharing concerns about inflation.

“I understand that inflation is as bad as not having a job,” Daly said.

Stock futures rise slightly ahead of Fed minutes release

Source link Stock futures rise slightly ahead of Fed minutes release

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