Business

Dow futures point to slightly lower open as growth concerns persist

U.S. stock index futures were lower Friday morning, amid jitters sparked by the Federal Reserve‘s cautious outlook for the world’s largest economy.

At around 03:25 a.m. ET, Dow futures slipped 38 points, indicating a negative open of more than 14 points. Futures on the S&P 500 and Nasdaq were seen mixed.

The U.S. central bank surprised investors by adopting a sharp dovish stance on Wednesday, projecting no further interest rate hikes this year and ending its balance sheet roll-offs.

Market sentiment was boosted by the Fed’s updated outlook on interest rates, but the reasons behind it caused some concern.

A U.S. trade delegation, headed by Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, will visit China for a two-day meeting at the end of next week.

Chinese Vice Premier Liu He is then expected to travel to Washington in early April.

A long-running trade dispute between the world’s two largest economies has battered financial markets in recent months, souring business and consumer sentiment.

On the data front, manufacturing and services PMI data for March is due at around 9:45 a.m. ET. Wholesale trade figures for January and existing home sales for February will be released shortly afterwards, with the latest monthly federal budget data due at 2 p.m. ET.

Meanwhile, Tiffany is expected to publish its latest quarterly results shortly before the opening bell.

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