US equity futures remained unchanged on Friday as market participants looked for fresh direction following Donald Trump's recent victory in the presidential election. The Dow Jones Industrial Average futures stabilized, while S&P 500 futures saw a slight decline of less than 0.1%, and Nasdaq futures dipped 0.2%, aligning with estimates collated by Bloomberg.
Earlier this week, major stock indices experienced gains after Trump defeated Vice President Kamala Harris in the 2024 election. In a significant monetary policy move, the Federal Open Market Committee implemented a 25 basis point cut to the benchmark lending rate, now set within the range of 4.5% to 4.75%.
Global oil prices also felt the impact of these changes, with North Sea Brent crude futures dropping by 1.5% to $74.49 per barrel and US West Texas Intermediate crude down 1.8% to $71.03 per barrel. Looking ahead, consumer sentiment data, scheduled for release at 10 am ET, is expected to reflect a modest improvement in November, with estimates indicating a reading of 71.0, up from 70.5 in October..