Stock Futures Are Muted As Investors Close Out August

Stocks are set to start the last week of trading for August on Monday. (NYSE)

Stock futures were barely budging on Sunday, two days after Federal Reserve Chair Jerome Powell signaled the potential for an interest rate cut—the first this year—saying that the shifting balance of risks “may warrant adjusting our policy stance.”

Just after 6 p.m. Eastern time on Sunday, Dow Jones Industrial Average futures rose 14 points, or less than 0.1%; and S&P 500 futures and Nasdaq Composite futures were both flat.

Stocks begin trading in the U.S. on Monday to close out the last week of August after notching records.

Powell didn’t say when, how often, or by how much interest rates could decline from the current federal-funds target range of 4.25% to 4.50%, but his words were enough for traders to increase their odds for a one-quarter percentage-point cut, and for investors to send the Dow Jones Industrial Average soaring to its first record close of 2025.

Later Friday, President Donald Trump announced a Commerce Department investigation into tariffs on imported furniture, sending some furniture retailers’ stocks dropping.

The Dow closed up 685.6 points, or 1.5% last week, including a gain of 846 points on Friday, to 45,631.7—notching its largest three-week point and percentage gain since the week ending July 11, according to Dow Jones Market Data. The Dow is up 7.3% year to date.

The S&P 500 index closed up 0.3% last week, also posting its largest three-week point and percentage gain since the week ended July 11. The S&P 500 is up 9.95% this year.

The Nasdaq Composite index closed down 0.6% last week, snapping a two-week winning streak and marking its largest one-week point and percentage decline since the week ending Aug. 1, according to Dow Jones Market Data.

The Nasdaq is up 11.3% this year.

Along with this week’s economic reports, Federal Reserve governor Christopher J. Waller is scheduled to talk about the economic outlook at the Economic Club of Miami Dinner in Miami on Thursday, Aug. 28. Waller was one of the two policymakers who had argued for a rate cut at the Fed’s July meeting.

Write to Janet H. Cho at janet.cho@dowjones.com