Dow Jones futures move little amid market caution ahead of Fed Powell's address

• Dow Jones futures remain steady as traders adopt caution ahead of Fed Chair Powell's speech at the Jackson Hole Symposium.
• US markets struggled as Fed rate cut odds eased following US economic data.
• Walmart declined 4.5% after missing earnings estimates for the first time since 2022.

Dow Jones futures steady around 44,850 during early European hours on Friday, ahead of the opening of the United States (US) regular markets. However, the S&P 500 futures decline by 0.12% to trade around 6,380, and the Nasdaq 100 futures fall by 0.29%, trading around 23,150.

US stock futures face challenges as traders adopt caution ahead of the Federal Reserve (Fed) Chair Jerome Powell's speech at the Jackson Hole Symposium in Wyoming, which could offer fresh clues on the September policy outlook.

US markets struggled as prospects for a September Federal Reserve rate cut faded, with the Dow and Nasdaq Composite each closing down 0.34%, while the S&P 500 slipped 0.4% on Thursday's regular session.

Strong PMI data paired with rising jobless claims highlights the Federal Reserve's challenge of weighing persistent inflation pressures against evidence of a softening labor market. According to the CME FedWatch tool, Fed funds futures traders are now pricing in a 75% chance of a rate reduction in September, down from 82% on Wednesday.

Walmart sank 4.5% after missing earnings estimates for the first time since 2022. The weak results, coupled with cautious guidance from other major retailers, highlighted consumer uncertainty in the face of higher tariffs and uneven spending patterns.