HomeFinancial MarketsStock Futures Falter as U.S. Credit Downgrade in Focus

Stock Futures Falter as U.S. Credit Downgrade in Focus

Futures on the New York Stock Exchange slipped on Monday morning as investors remained focused on the latest decision by credit ratings agency Moody’s to downgrade the U.S. from “stable” to “negative” given the government’s debt situation worsens due to high-interest rates.

Contracts on the Nasdaq 100 fell by around 0.3%, while those on the S&P 500 slipped 0.2%. Futures listed on the Dow Jones Industrial Average remained relatively unchanged. Investors are looking towards the October Consumer Price Index report on Tuesday for further guidance, as well as earnings from a range of major stocks including Home Depot, Target, and Walmart.

Several Federal Reserve officials have stated that the central bank remains open to enforcing more interest rate hikes should inflation not continue to cool, thereby spiking investor anxiety.

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