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Stock Market

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

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

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.