Wall Street was set to open lower on Thursday as minutes from the Federal Reserve's July meeting showed growing concerns over weak inflation, while investors worried about President Donald Trump's ability to pursue his pro-growth policies. Indexes closed off their highs on Wednesday following Trump's decision to disband two business councils after several chief executives quit in protest over his remarks on white nationalists. Now, you will have to question what the administration will be able to do going forward to implement any kind of policy," said Bob Phillips, managing principal at Spectrum Management Group.
Stock futures are lower.
The European Central Bank expressed caution about removing monetary stimulus too soon following a recent bounce in the euro, the record of its last meeting showed - hitting the single currency along with the region's equity markets. As money market futures cut their expectations of a U.S. rate hike by December to 40 percent from just under 50 percent before the Fed's minutes, futures for the blue-chip S&P 500 shed 0.2 percent in pre-market trade. U.S. President Donald Trump's decision on Wednesday to disband two business councils after a number of its members quit in protest over his comments about white nationalists also continued to weigh on stock valuations.