US Stock Futures in Red, as Post-Election Bounce Was Short-Lived

Forex News

US stock futures pointed to a lower open, as bounce after the US midterm election turned out to be a short-lived, and investors are focused on the Fed's monetary policy meeting. Wall Street rallied on Wednesday, with the Dow and S&P 500 recording their best post-midterm elections rally since 1982.

The results of a two-day meeting of the US Federal Reserve will be announced today. It is widely expected that the regulator will keep the interest rate in the range of 2%-2.25%, despite the change in the political landscape in the United States, and recent economic data are unlikely to affect plans to increase rates in December and tighten policy next year.

The Fed may note a possible slowdown in the housing market and a fall in business investment, as is reason to believe that economic growth is weakening. At the same time, employment growth after the September meeting of the central bank was stable, as were household spending.