Equity futures pulled back overnight as the post-Fed rally lost some steam. The Federal Reserve boosted global markets after voting to leave its key policy rate unchanged on Wednesday. Furthermore, the central bank lowered the median projection of the fed funds rate for the coming years. The diminished rate hike expectations eased market concerns as participants continue to express some misgivings over the potential removal of policy accommodations.
Several Federal Reserve officials are scheduled to speak today with Cleveland Fed President Loretta Mester (an FOMC voter), Philadelphia Fed President Patrick Harker (not an FOMC voter), and Atlanta Fed President Dennis Lockhart (not an FOMC voter) each scheduled to offer remarks at 12:00 ET. Particularly, President Mester's remarks will be in focus after she advocated for raising the policy rate at the September meeting.
In company specific news, Facebook (FB 127.00, -3.08) trades lower by 2.4% in pre-market after reports indicated that the company overstated viewing times associated with its video ads. Separately, Twitter (TWTR 21.67, +3.04) has spiked 16.3% after CNBC's David Faber indicated that the company is moving closer to a potential sale.
There is no economic data of note scheduled to be released today.