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US STOCKS-Wall Street set for lower open, Fed meet in focus
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US STOCKS-Wall Street set for lower open, Fed meet in focus
Mar 18, 2025 6:40 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click LIVE/ or type LIVE/ in a news window)

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Nvidia ( NVDA ) edges lower ahead of annual software developer

conference

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Tesla slips after RBC lowers price target

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Gold miners gain as bullion prices hit record high

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Futures down: Dow 0.18%, S&P 500 0.29%, Nasdaq 0.47%

(Updates to before market open)

By Pranav Kashyap and Johann M Cherian

March 18 (Reuters) - U.S. stock indexes were poised for

a lower open on Tuesday ahead of the Federal Reserve's upcoming

meeting, with focus on any insights from the central bank

regarding the economic repercussions of the ongoing tariff

frictions.

The central bank's two-day rate-setting meeting kicks off on

Tuesday, and expectations are that the Fed will keep interest

rates steady, according to data compiled by LSEG.

Several Fed officials have cautioned against hasty moves,

with policymakers awaiting tangible data on tariff impacts.

"The Fed does not want to front run the potential impact of

policy, especially since it seems to be on and off. It's a

difficult job to walk this tightrope," said Art Hogan, market

strategist at B. Riley.

Trump's tariff measures have sparked a trade tussle with

major U.S. trading partners, prompting swift retaliatory

actions. Analysts said U.S. equities dipped into oversold

territory last week.

At 08:45 a.m. ET, U.S. S&P 500 E-minis were down

16.75 points, or 0.29%, with 196,008 contracts changing hands,

Nasdaq 100 E-minis were down 92.25 points, or 0.47%, Dow

E-minis were down 77 points, or 0.18%.

Nvidia ( NVDA ) edged lower in premarket trading. The

company is expected to reveal details of its latest AI chip at

its annual software developer conference.

Focus will also be on developments related to the

Ukraine-Russia war, with Trump scheduled to speak to Russian

President Vladimir Putin at 9 a.m. ET.

Gold crossed $3,000 per ounce for the first time last week,

and hit another record high earlier in the session.

U.S.-listed stocks of gold miners such as Barrick Gold

rose 2% and Gold Fields gained 3.6%.

Some investors continued with "dip buying," capitalizing on

discounted U.S. equities, that propelled all three major indexes

up more than 2% each over the past two sessions.

Last week, the S&P 500 has tumbled more than 10% from

its February peak, signaling the benchmark index entered a

correction phase.

The blue-chip Dow index hovered about 3% shy of a

correction, while the tech-heavy Nasdaq confirmed it is

in a correction on March 6.

Tesla fell 3.6% after brokerage RBC trimmed its

price target on the stock, flagging that the EV maker is losing

market share in China and Europe.

U.S. single-family homebuilding rebounded sharply in

February, with industrial production data for the same month

expected later in the day.

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