FX.co ★ U.S. Futures Dip as Rally Fades

U.S. stock futures experienced a slight decline on Wednesday, following a lackluster performance on Wall Street, as skepticism increased regarding the longevity of the recent market rally. The S&P 500 halted its six-day winning streak, the Nasdaq registered its first loss in three sessions, and the Dow concluded its three-day advancement. Investors are closely monitoring the ongoing discussions concerning the federal budget bill and the expanding deficit. Internationally, tensions re-emerged when China accused the U.S. of jeopardizing recent trade negotiations in Geneva, in response to a warning from the U.S. Commerce Department over Huawei chips. Concurrently, Federal Reserve officials continued to suggest that the current pause in interest-rate changes could last longer. Alberto Musalem, President of the St. Louis Fed, stated that current monetary policy is appropriate and downplayed inflationary risks from tariffs as fleeting. In corporate developments, FICO's shares dropped following a federal housing official's concerns over their pricing model, whereas Moderna's stock increased after the FDA released new guidance endorsing updated COVID-19 vaccine boosters.