Muted Wall Street Open After Powell Speech and Fed Meeting Minutes

Wall Street's main indexes prepared for a subdued opening after Federal Reserve Chair Jerome Powell refrained from delivering fresh policy directions, prompting investors to base their strategies on existing data. Despite expectations of rate cuts to support the labor market, the Fed's residual inflation concerns lingered from September's meeting minutes, released Wednesday.

Investors will closely monitor comments from other Federal Reserve officials, including Board Governor Michael Barr and San Francisco Fed President Mary Daly. Any hawkish statements could affect equities, which have remained strong, buoyed by anticipated lower interest rates despite a typically sluggish period for stocks.

Ahead of the opening bell, Dow E-minis were slightly down, S&P 500 E-minis rose a bit, and Nasdaq E-minis dipped. Meanwhile, PepsiCo and Delta Airlines' stronger-than-expected earnings reports are being scrutinized for insights amid a government data publication hiatus due to the ongoing shutdown. Moreover, with gold prices breaching $4,000 an ounce and a potential Gaza peace deal, market dynamics continue to evolve.