Pre-Market | Fed Policy Concerns Drag US Index Futures Down Pre-Market

21 Aug., DOW FUTURES down 0.36% in pre-market, NASDAQ FUTURES down 0.19% in pre-market, S&P FUTURES down 0.24% in pre-market. The pre-market decline in major US index futures reflects growing concerns over Fed policy. Fed Chair Powell is expected to adopt a neutral stance at Jackson Hole, with future interest rate adjustments hinging on inflation and jobs data. Meanwhile, Fed officials have cautioned about the risks of sharp declines in bank reserves due to quantitative tightening, which could strain money markets.

In pre-market trading, Boeing shares rose 1.30% as Wall Street bets on the company's comeback due to improved sentiment. Advanced Micro Devices saw a 1.08% increase, driven by strong quarterly revenue and growth in the gaming chip market. Meanwhile, Gilead Sciences dropped 2.72% after CVS excluded coverage for its new HIV prevention drug. Walmart's shares fell 2.57% following Q2 earnings that missed expectations.

Aethlon Medical shares surged over 64% in pre-market trading, driven by the company's filing of an S-1 registration for up to 1.55 million shares. Tharimmune also saw a significant rise, with shares up nearly 36% following the FDA's fast-track designation for its drug and promising trial results. Quhuo, on the other hand, experienced a sharp decline, with shares dropping over 35% in pre-market trading due to a 1-for-90 reverse ADS split aimed at maintaining Nasdaq compliance amid business challenges. Star Fashion shares also fell, dropping over 25% in pre-market trading.

Federal Reserve Chair Powell may maintain a neutral stance at an upcoming meeting, signaling flexibility based on inflation and labor market data for future rate decisions. Federal Reserve officials warned of potential sharp declines in bank reserves due to Treasury account growth and balance sheet adjustments, with tools available to manage market stress. Alibaba plans to spin off its automotive technology subsidiary Zebra Network for an independent Hong Kong listing, retaining over 30% ownership. OpenAI is considering a future public offering.