US Futures Lower, Fed Speaker Eyed

Last Updated: Friday, August 19, 2022 8:39 AM | MT Newswires

US stock futures were lower on Friday as traders looked ahead to more comments from Federal Reserve officials for clarity on the direction of future monetary policy.

Dow Jones Industrial Average futures fell 0.8%, S&P 500 futures declined 1%, and Nasdaq futures were down 1.1%.

Federal Reserve officials said the central bank remains committed to raising interest rates to combat high inflation while offering mixed signals on the potential pace of rate increases for September.

Richmond Federal Reserve President Thomas Barkin is scheduled to speak at the Maryland Association of Counties 2022 Summer Conference at 9 am ET.

Oil prices slumped, with front-month global benchmarks Brent crude and West Texas Intermediate crude both down more than 2%, capping a two-day rally on signs of improving US demand with a sharp drop in crude inventories.

There are no major economic data due for release.

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