Fed minutes, SpaceX faces complaint from U.S. labor agency - what's moving markets

investing.com:

Investing.com -- U.S. stock futures edged up on Thursday, after a negative start to 2024 for equities on Wall Street carried over into a second straight session. Markets were little surprised by minutes from the Federal Reserve's latest meeting, which dampened already ebbing hopes that the central bank would begin to cut interest early this year. Elsewhere, a U.S. labor agency accuses rocket company SpaceX of unlawfully dismissing workers who raised concerns over social media statements made by founder Elon Musk.

1. Futures inch higher

U.S. stock futures pointed into the green on Thursday, with investors looking ahead to fresh labor market data this week and digesting minutes from the Federal Reserve's latest policy meeting.

By 04:57 ET (09:57 GMT), the Dow futures contract had added 37 points or 0.1%, S&P 500 futures had climbed by 5 points or 0.1%, and Nasdaq 100 futures had risen by 31 points or 0.2%.

The main averages on Wall Street all closed lower in the prior session, as a dismal start to the new year for equities extended into a second day. The benchmark S&P 500 and 30-stock Dow Jones Industrial Average both slipped by 0.8%, while the tech-heavy Nasdaq Composite dropped by 1.2% — its fourth straight negative session.

Stocks are coming off a solid 2023 performance, including a late-year rally that was driven in part by hopes that signs of easing inflation in the U.S. may persuade the Fed to soon begin stepping away from an aggressive series of rate hikes. The central bank's December meeting, at which officials at the central bank unveiled a more dovish outlook than previous projections, helped feed this enthusiasm.

2. Fed minutes appear to temper early rate cut enthusiasm

Minutes from the Fed's gathering last