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Stock Futures Rise as Markets Bet on Fed Rate Cuts After Weak Data
Stock futures were rising Wednesday, with investors increasingly sure the Federal Reserve is going to cut interest rates next month following weaker-than-expected retail sales data.
Futures tracking the Dow Jones Industrial Average rose 28 points, or 0.1%. S&P 500 futures gained 0.2%, and contracts tied to the tech-heavy Nasdaq 100 advanced 0.4%.
Each of the three major indexes rallied on Tuesday, with the Dow jumping more than 660 points after two economic data points for September appeared to strengthen the case for the Fed to lower rates at its Dec. 9-10 policy meeting. Retail sales figures came in weaker than expected, and the producer price index climbed in line with economists’ forecasts.
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