Stock market today: Dow, S&P 500, Nasdaq futures slide ahead of Fed meeting kickoff

Published On Dec 17, 2024, 7:31 AM

US stock futures have declined as investors anticipate a key Federal Reserve meeting set to begin today, which is expected to lead to a 0.25% interest rate cut. Dow futures fell by 0.4%, the S&P 500 by 0.3%, and Nasdaq futures by 0.2%. This slump follows eight consecutive days of losses for the Dow. The market is eagerly awaiting a report on retail sales, which is expected to indicate a 0.5% month-over-month increase, signaling healthy holiday spending despite concerns about persistent inflation. Additionally, Nvidia's stock continues to struggle, experiencing a decline of over 10% from its peak in November, while cryptocurrency stocks have seen an uptick as Bitcoin surpasses $107,000.