U.S. stock index futures edged lower Wednesday night as investors weighed mixed signals from the Federal Reserve’s January meeting minutes, adding fresh uncertainty to the outlook for interest rates and monetary policy in 2026. Market participants are also closely watching upcoming Walmart earnings for insights into U.S. consumer spending and the broader economic outlook.
As of 20:00 ET (01:00 GMT), S&P 500 Futures dipped to 6,892.0 points. Nasdaq 100 Futures declined nearly 0.1% to 24,942.75, while Dow Jones Futures slipped 0.1% to 49,685.0. The muted movement followed a positive regular trading session, where Wall Street indices gained on the back of a rebound in technology stocks and data showing resilience in the U.S. economy. However, gains were capped as investors digested the Fed’s cautious tone.
The Federal Reserve minutes revealed that policymakers unanimously voted to hold interest rates steady at 3.50% to 3.75%. Still, officials appeared divided over the next steps. Several members warned that inflation could take longer than expected to return to the central bank’s 2% target. Some policymakers even suggested that further rate hikes may be necessary if inflation remains elevated. This stance contrasts with market expectations that inflation pressures will ease and interest rates will decline later this year. Artificial intelligence was also highlighted as a source of uncertainty, with debate over whether rapid AI expansion could fuel or temper inflation.
Attention now turns to Walmart’s fourth-quarter earnings report. Analysts expect earnings per share of $0.7269 on revenue of $190.4 billion. As the world’s largest retailer, Walmart is widely viewed as a bellwether for U.S. consumer health, particularly amid persistent inflation concerns.
Meanwhile, investors are monitoring geopolitical tensions with Iran, as reports indicate increased U.S. military activity in the Middle East. Additional economic data, including U.S. trade figures and weekly jobless claims, are also set to influence market sentiment.


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