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Stock futures were little changed after Thursday’s comeback as investors assess Fed plans


U.S. stock futures were little changed late Thursday after major averages returned late in the day as investors weighed the likelihood of the Federal Reserve tightening monetary policy to fight inflation.

Dow Jones Industrial Average futures rose 3 points, or 0.01%. S&P 500 and Nasdaq 100 futures rose 0.02% and 0.05%, respectively.

The Dow Jones Industrial Average rebounded on Thursday after two straight days of losses. The Dow Jones rose 87.06 points, or 0.25%, to 34,583.57 after falling as much as 300 points earlier in the session. The S&P 500 gained 0.43% to 4,500.21, and the Nasdaq Composite rose 0.06% to 13,897.30.

The choppy session took place amid continued uncertainty as investors weighed a more aggressive stance against inflation from the Federal Reserve. On Wednesday, the central bank released the minutes of its March meeting, indicating that policymakers plan to cut their bond holdings by a consensus amount of about $95 billion a month. The minutes also indicated potential interest rate hikes of 50 basis points at future meetings.

“We’re in a trading range market and will be that way for a while,” Stephanie Link, chief investment strategist and portfolio manager at Hightower, told CNBC’s “Closing Bell.” “And it’s really because we have so many unknowns to deal with.”

On the economic front, the wholesale inventories report will be released Friday at 10 a.m.

Investors are also eagerly awaiting earnings season, which kicks off next week with reports from five major banks. JPMorgan will report before the bell on Wednesday. Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo will report before markets open Thursday.

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