US Futures in Holding Pattern Ahead of Fed Minutes

Wednesday, April 7, 2021 8:08 AM | MT Newswires

US stock futures were struggling for a direction Wednesday as traders looked ahead to the release of the minutes from the Federal Reserve's most recent policy meeting.

Dow Jones Industrial Average futures inched up 0.04%, S&P futures gained 0.02%, while Nasdaq futures were unchanged.

Oil prices jumped, with global benchmark Brent crude up 0.9% and US West Texas Intermediate up 0.8%, after industry data showed a weekly draw in US crude stockpiles.

At 8:30 am ET, data are expected to show US trade deficit widening to $70.5 billion in February from January's $68.2 billion deficit, according to Bloomberg data.

The minutes from the Federal Open Market Committee's March 17 statement are scheduled for release at 2 pm.

On the winning side, shares of CA Healthcare Acquisition (CAHC) were 11% higher pre-bell after the company agreed to merge with point-of-care diagnostics firm LumiraDx.

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