Advertisment
U.S. stock futures pointed to a negative open on Friday as investors further losses in oil prices sparked fears of a global economic slowdown as the Federal Reserve
Futures for the Dow Jones Industrials fell 97 points, or 0.4%, to 26,102
S&P futures slid 11.25 points, or 0.4%, to 2,797.50, while the NASDAQ Composite dipped 48.5 points, or 0.7%, to 7,117.50.
On the earnings front, Yelp shares plunged more than 31% in the pre-market after releasing its latest quarterly results. Dow-member Disney, meanwhile, rose 2.1% on the back of better-than-expected results.
Meanwhile, in data, the Bureau of Labor Statistics releases its producer price index (PPI), while consumer sentiment and wholesale trade data are expected to be released at 10 a.m. ET.
The Fed on Thursday decided to leave its benchmark interest rate unchanged, as was expected, but comments by the U.S. central bank suggested it was on course to continue hiking rates.
Although a statement released by the institution noted a moderation in business investment, it said the bank still expects "further gradual increases" in the prime lending rate. Traders had been on edge last month due to concerns over the Fed's rate hiking path.
Overseas, in Japan, the Nikkei 225 dwindled 1.1% Thursday, while in Hong Kong, the Hang Seng index faltered 2.4%.
Oil prices 89 cents to $59.78 U.S. a barrel.
Gold prices lost $8.90 to $1,216.20 U.S. an ounce.
