US pre-open: Stocks futures mixed as traders await Fed comments

20th Aug 2024 10:32

(Sharecast News) - Wall Street futures were mixed ahead of the opening bell on Tuesday as investors turned their attention firmly towards the Federal Reserve Bank.

As of 1215 BST, Dow Jones futures were 0.02%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.10% and 0.12% firmer, respectively.

The Dow closed 236.77 points higher on Monday as stocks came off a winning week.

This week's primary focus will be the Federal Reserve's Jackson Hole symposium in Wyoming, with Fed chairman Jerome Powell slated to deliver a speech on Friday, with traders set to look for any hints as to what the central bank may look to do with its benchmark interest rates come September.

As far as Tuesday goes, on the macro front, Federal Reserve Bank of Atlanta president Raphael Bostic and vice chair for supervision Michael Barr will deliver speeches at 1835 BST and 1845 BST, respectively.

In the corporate space, Palo Alto Networks shares moved higher in pre-market trading after the cybersecurity company beat both profit and revenue expectations in Q4, while home improvement retailer Lowe's posted quarterly revenues that fell short of estimates and lowered its full-year profit guidance.

Reporting by Iain Gilbert at Sharecast.com