Stock futures trade lower after Fed said economy slowed over summer
The Marketgauge Group managing director Michelle Schneider and Peapack Private Wealth Management managing director David Dietz provide insight on market concerns on ‘Making Money’
U.S. equity futures traded lower early Thursday, adding to the recent slide after the Federal Reserve reported a slowing in the U.S. economy over the summer.
The major futures indexes suggested a decline of 0.4% when Wall Street trading begins for the day.
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The Federal Reserve’s latest survey of the nation’s business conditions, dubbed the “Beige Book,” said U.S. economic activity “downshifted” in July and August.
The Fed said the slowdown was largely attributable to a pullback in dining out, travel and tourism in most parts of the country, reflecting concerns about the spread of the highly contagious delta variant of the coronavirus.
The latest Beige Book will be used by Fed policymakers at their next…
