Stocks – U.S. Futures Fall as Fed Statement Dampens Demand

© Reuters. U.S. futures were down on Friday. © Reuters. U.S. futures were down on Friday. – U.S. futures were lower on Friday, as expectations of steady Federal Reserve rate hike dampened investor appetite for risk.

The fell 16 points or 0.59% to 2,792.25 as of 6:51 AM ET (11:51 GMT) while were down 136 points, or 0.52%, to 26,064.0. Meanwhile tech heavy decreased 62 points, or 0.87%, to 7,103.50.

The Fed kept , but indicated it would continue to slowly and steadily increase interest rates.

The less-than-cautious tone surprised investors, some of whom were expecting a more dovish stance after steep stock declines in October.

Still, expectations of a hike are priced in at around , according to’s Fed Rate Monitor Tool.

Walt Disney (NYSE:) was among the top gainers in pre-market trading, surging 2.16% after posting higher than expected earnings after the close on Thursday.

Dropbox Inc (NASDAQ:) increased 7.52% after it beat economists’ expectations, while Qualcomm (NASDAQ:) inched up 0.10%.

Elsewhere, Tesla (NASDAQ:) fell 0.71% while General Electric (NYSE:) declined 3.85% and Yelp Inc (NYSE:) slumped 30.80% after reporting a lower outlook and a miss on revenue.

In economic news, the comes out at at 8:30 AM ET (13:30 GMT), while at 10:00 AM ET (15:00 GMT), the University of Michigan will release its preliminary measure of November .

In commodities, fell 0.52% to $1,219.80 a troy ounce while futures decreased 1.62% to $59.69 a barrel. The , which measures the greenback against a basket of six major currencies, was up 0.05% to 96.60.

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