U.S. stock index futures were lower on Friday morning, after Federal Reserve Chairman Jerome Powell reiterated the U.S. central bank would be patient about raising interest rates over the coming months.
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At around 05:40 a.m. ET, Dow futures fell 7 points, indicating a negative open of more than 30 points. Futures on the S&P and Nasdaq were trading lower.
The moves in pre-market trade come as investors continue to digest comments from Jerome Powell. Speaking at the Economic Club of Washington on Thursday, the chairman of the U.S. central bank said policymakers were prepared to wait before hiking rates again.
Meanwhile, market focus was also attuned to news that trade talks between the world’s two largest economies could soon move to higher levels.
U.S. and Chinese officials are working on arrangements of higher-level trade talks after mid-level officials concluded talks earlier this week. U.S. Treasury Secretary Steven Mnuchin said Thursday that Vice Premier Liu would most likely visit Washington later in January for further negotiations.
On the data front, investors are likely to closely monitor the latest CPI figures as well as core CPI data for December at around 8:30 a.m. ET.
In corporate news, Infosys is expected to published its latest quarterly results shortly before the opening bell.
Major stock indexes on Wall Street closed slightly higher on Thursday, with the S&P 500 notching its first five-day winning streak since September.
However, gains were capped after disappointing holiday sales from Macy’s and a revenue guidance cut from American Airlines pressured retail and airline shares. Fear that the U.S. government shutdown might continue for a long time also weighed on stocks in the previous session.