U.S. stock index futures turned slightly unfavorable early Thursday morning.
Around 5:50 a.m. ET, Dow futures indicated an unfavorable open of about 40 points. Futures on the S&P and Nasdaq were blended.
Traders are expected to be attuned mainly to the Federal Reserve’s central banking meeting in Jackson Hole, Wyoming, over the next two days.
Policymakers on the U.S. central bank are scheduled to ship remarks from Thursday, after weeks of restricted public appearances. Philadelphia Fed President Patrick Harker and Dallas Fed President Robert Kaplan are each set to comment on the world’s largest economic system later in the session.
The Fed’s carefully watched annual meeting comes shortly after the central bank published its latest assembly minutes on Wednesday.
The July minutes showed Fed officials who voted to decrease rates of interest three weeks ago agreed that the transfer shouldn’t be considered as a sign that there’s a “pre-set course” for future cuts.
The summary indicated that policymakers had seen the move as a “mid-cycle adjustment,” an expression Chairman Jerome Powell utilized in a press conference afterward that was seen as contributing to a stock market sell-off after the July 30-31 meeting.
The widely watched 2 to 10-year U.S. yield curve, typically monitored as the precursor for a recession, flattened and then briefly inverted after the release of the Fed’s meeting minute
On the data front, the newest weekly jobless claims report will probably be launched at 8:30 a.m. ET.
Leading index data for July and the Kansas City Fed survey, manufacturing Purchasing Managers’ Index (PMI) and services PMI for August will all follow slightly later in the session.
In corporate news, Hormel Foods, BJ’s Wholesale, and Dick’s Sporting Goods are amongst some of the firms expected to report earnings earlier than the opening bell.
Salesforce.com, Gap and HP are among a few of the companies set to release their latest quarterly results after the market close.