Stock futures rise as Wall Street awaits retail sales data, Fed policy meeting: Live updates

Published On Sep 16, 2024, 6:01 PM

Stock futures rose ahead of important retail sales data and the beginning of the Federal Reserve's September policy meeting. The S&P 500 futures gained 0.4%, Nasdaq-100 futures increased 0.6%, and Dow Jones futures advanced by 0.3%. Notably, Microsoft shares rose 2% due to a dividend hike and a new $60 billion buyback program, while Intel's stock spiked around 7% after announcing plans to create a subsidiary for its foundry business and receiving up to $3 billion in federal funding. The market is anticipating the Fed's decision on interest rates, with a split expectation between a 50 or 25 basis point cut. Recent performance showed mixed results, with the Dow hitting a record high while the Nasdaq declined.