US pre-open: Futures mixed following solid gains

23rd Feb 2024 11:42

(Sharecast News) - Wall Street futures were mixed ahead of the bell on Friday following solid gains recorded on Thursday.

As of 1245 GMT, Dow Jones futures were up 0.12%, while S&P 500 futures were 0.01% firmer and Nasdaq-100 futures had the index opening 0.12% weaker.

The Dow closed 456.87 points higher on Thursday, while the Nasdaq Composite registered its best day in over 12 months on the back of solid earnings from chipmaker Nvidia.

In focus early on Friday, comments from Federal Reserve governor Christopher Waller from after the close Thursday underlined the central bank's stance that policymakers will approach their next moves on monetary policy with caution. Waller stated that hot January inflation prints increased the likelihood that cuts may very well be postponed, stating that he would need to see "at least another couple months" of inflation data before deciding how best to move forward.

Traders have now seemingly pared expectations for an aggressive interest rate-cutting programme in 2024, now pricing in moves that fall in line with prior indications from Federal Reserve officials.

In the corporate space, fintech business Block shares were sharply higher in pre-market trading after revealing quarterly revenues had come in ahead of expectations, while used car retailer Carvana surged on the back of an announcement that retail units were set to grow in 2024.

No major data points were slated for release on Friday.

Reporting by Iain Gilbert at Sharecast.com