US pre-open: Stocks little changed as major indices come off winning week

19th Aug 2024 10:48

(Sharecast News) - Wall Street futures were little changed ahead of the bell on Monday as major indices come off a winning week.

As of 1230 BST, Dow Jones futures were up 0.02%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.01% and 0.07% weaker, respectively.

The Dow closed 96.70 points higher on Friday, while the S&P 500 recorded its best week so far this year.

This week's primary focus will be Federal Reserve chairman Jerome Powell's speech at the central bank's symposium in Jackson Hole, Wyoming on Friday, with market participants hoping to gain more insight into the Fed's position on future rate cuts. Minutes from the Fed's most recent policy meeting will also be out on Wednesday.

As far as Monday was concerned, Federal Reserve bankers Neel Kashkari and Christopher Waller will deliver speeches.

Elsewhere, the Democratic National Convention will kick off today, while earnings from the likes of Palo Alto Networks and Estee Lauder were both slated for release.

Reporting by Iain Gilbert at Sharecast.com