Stock futures little changed ahead of Fed decision

Equity futures were pointing to a slightly lower open a day after the Dow soared more than 500 points following the midterm elections.

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Dow Jones futures were trading lower by 0.05 percent. The S&P 500 slipped 0.16 percent and the Nasdaq Composite was off 0.12 percent.

Investors will turn their attention to the Federal Reserve, which will deliver an interest rate decision.  While no change in interest rates is expected, policymakers are widely expected to hike rates in December.

Traders will also get the weekly report on jobless claims.

The lone Dow stock to report earnings this week – Walt Disney – will post 3Q results after the closing bell. We’ll also hear from several other media/communications related names, including Discovery, Gannett, Liberty Media and EchoStar in the morning, and AMC Entertainment and Lions Gate Entertainment in the afternoon.

Ticker Security Last Change %Chg
I:DJI DOW JONES AVERAGES 26180.3 +545.29 +2.13%
SP500 S&P 500 2813.89 +58.44 +2.12%
I:COMP NASDAQ COMPOSITE INDEX 7570.7541 +194.79 +2.64%

On Wednesday, U.S. stocks soared with the Dow Jones Industrial Average jumping 545 points, moving above the 26,000 level for the first time in a month.

Investors celebrated the outcome of the midterm elections that had the Democrats taking back the house and the Republicans maintaining hold of the Senate.

A “best case scenario” for U.S. equities, according to several strategists. All three major U.S. averages jumped a healthy 2 percent plus.

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In Asian markets on Thursday, China’s Shanghai Composite ended the session down 0.2 percent.

Hong Kong’s Hang Seng closed out the day up 0.3 percent.

Japan’s Nikkei ended the day up 1.8 percent.

In Europe, London’s FTSE opened up 0.3 percent, Germany’s DAX gained 0.4 percent and France’s CAC added 0.2 percent.

FOX Business’ Suzanne O’Halloran and Leia Klingel contributed to this report. 

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