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Stocks - U.S. Futures Fall Despite Reports that Fed Could Pause Rate Hikes

Published 12/07/2018, 06:46 AM
Updated 12/07/2018, 06:46 AM
© Reuters.

Investing.com – U.S. futures pointed to a lower opening bell on Friday despite reports that the Federal Reserve could pause its interest rate hikes.

The S&P 500 futures fell 13 points or 0.51% to 2,677.38 as of 6:45 AM ET (11:45 GMT) while Dow futures lost 115 points, or 0.46%, to 24.792. Meanwhile tech heavy Nasdaq 100 futures decreased 41 points, or 0.60%, to 6,783.5.

The Wall Street Journal reported on Thursday that the Fed is likely to consider a wait-and-see approach after hiking rate increases at its next meeting in December and does not know when its next rate hike will be.

Chances of a rate hike in December were priced in at 75.8%, according Investing.com’s Fed Rate Monitor Tool.

Tesla (NASDAQ:TSLA) was among the top gainers in premarket trading, rising 1.63% after news that the luxury car maker plans to use a stock and cash mix to pay off its debt due in March. Twitter inched up 0.12%, while Southwest Airlines (NYSE:LUV) gained 0.09% after reports that the company is close to getting certification to open a flight route to Hawaii.

Meanwhile General Electric (NYSE:GE) fell 1.77%, while Facebook (NASDAQ:FB) declined 0.67% and semiconductor Micron (NASDAQ:MU) dipped 1.27%. Home Depot (NYSE:HD) dipped 1.07% and Chevron (NYSE:CVX) declined 1.03%.

In economic news, nonfarm payrolls data for November are released at 8:30 AM ET (13:30 GMT), while the Michigan consumer sentiment index comes out at 10:00 AM ET (15:00 GMT).

In commodities news, gold futures rose 0.33% to $1,247.65 a troy ounce while crude oil futures was flat at $51.58 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, rose 0.02% to 97.03.

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Latest comments

The headline does not match reality if the market has priced in 7 75% chance of December rate hike where is it say that they're going pause the rate hikes?
people who talk about interest rates based on talking points are like the pro tax cuts for the rich. - un-informed about economics.wWhoever wrote this article presents no facts about Fed decision and in fact says market has priced in 75% chance of a hike. Can you see the flaw in your headline? As far as the comments about inflation by another talker, have you paid rent, taxes or even for food? Please get informed about reality. The interest rate needs to be higher. About 5% for 30 year or 4 for 10 years. The rich don't spend any tax cuts. The rich save. Its the middle class that are getting shafted. Have you seen the minimum wage people live?People who call for stable economy don't understand that real role of interest rates and proper tax rates.
that would be the best choice considering how much noisy is coming from different market.. If the world economy is slowing down and trade political tension are still going on it wuold be creazy to continue hinking interest rates. i hope december hiking will be paused as well to let breathe american's economy from monatary restrictive policy. Oil price is going down, home prices are stable and there are no signs of inflation in US economy.
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