US Equity Futures Mixed Pre-Bell as Fed Signals Fuel Rate-Cut Hopes

09:04 AM EDT, 08/26/2024 (MT Newswires) -- US equity futures were mixed ahead of Monday's opening bell after closing higher in the previous session following hints from Federal Reserve Chair Jerome Powell about easing monetary policy.

The Dow Jones Industrial Average futures gained 0.2%, S&P 500 futures increased 0.1%, and Nasdaq futures slipped 0.1%.

"The time has come for policy to adjust," Powell said during the Jackson Hole economic symposium last week.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.6% at $80.14 per barrel and US West Texas Intermediate crude up 3% at $77.06 per barrel.

New orders for durable goods, released at 8:30 am ET, rose 9.9% in July following a 6.9% drop in June, ahead of estimates compiled by Bloomberg for a 5% increase.

In other world markets, Japan's Nikkei closed 0.7% lower, Hong Kong's Hang Seng ended 1.1% higher, and China's Shanghai Composite finished 0.04% higher. Germany's DAX index slipped 0.1% in Europe's early afternoon session, while the UK market was closed for a holiday.

In equities, shares of Alarum Technologies (ALAR) were 20% lower pre-bell after the company reported lower Q2 adjusted earnings per American depositary share. PDD Holdings (PDD) shares fell 18% after the company reported Q2 revenue that trailed analysts' estimates.

On the winning side, Medirom Healthcare Technologies (MRM) shares soared 178% after the company said its Medirom Mother Labs subsidiary had secured a series A investment from NFES Technologies.