What are Dow futures? In simple terms, they let investors hedge or speculate on the Dow’s direction. This morning's reading shows futures flat after three sessions of gains, with volatility expected ahead of the Fed’s policy statement. Sector rotation hints at possible short-term consolidation. The Fed just delivered its first cut of the year , and officials have penciled in more to give the job market a boost. But too-strong data on jobs could make the Fed less willing to cut rates, which would strengthen criticism that the U.S. stock market has become too expensive after prices ran so high. Too-weak numbers, meanwhile, could signal a coming recession, which would also hurt stock prices. The benchmark 10-year Treasury yield crept up 1.5 basis points to trade at 4.1657%. What are Dow futures? Today, they’re up 94 points, lifted by energy sector strength as oil prices rebound above $85/barrel. Investors are rotating into value names amid geopolitical supply concerns.