Dow Jones Futures Steady as Market Reacts to Fed Moves, Micron Plunges

Dow Jones futures held relatively steady early Thursday, along with S&P 500 and Nasdaq futures. Micron Technology (MU) sank sharply overnight due to weak guidance.

The stock market rally stumbled on Wednesday, despite the Federal Reserve cutting interest rates and signaling two additional rate cuts in 2025. The Dow Jones plummeted over 1,100 points, while the Russell 2000 fell sharply below its 50-day moving average. The S&P 500 also breached that critical level. Meanwhile, Treasury yields surged to their highest levels since late May.

Dow Jones Futures Update

Dow Jones futures rose 0.2% compared to fair value, while S&P 500 futures gained 0.1%. Nasdaq 100 futures dipped slightly.
The 10-year Treasury yield increased to 4.52%.

The Bank of Japan maintained its interest rate at 0.25% overnight, a move widely anticipated. However, the yen weakened following the announcement.

On Wednesday evening, President-elect Donald Trump opposed a continuing resolution to avoid a government shutdown, a position supported by Tesla CEO Elon Musk. This opposition heightens the risk of a shutdown.

Note: Overnight movements in Dow futures and other indices don't always reflect trends in regular stock market trading sessions.