U.S. stock index futures edged lower on Friday, pausing after the previous session's rally set Wall Street's main indexes on track for weekly gains following the Federal Reserve's pivotal stance on monetary policy earlier in the week.

Futures on the fed funds rate, which measures the cost of unsecured overnight loans between banks, have priced in on Wednesday about 76 basis points of additional rate cuts by the Federal Reserve by the end of the year,

Republican presidential candidate Donald Trump said on Thursday the U.S. Federal Reserve's decision to cut interest rates by half of a percentage point was "a political move." "It really is a political move.

Trump attributed the rate reduction to either a "very bad" economy or to the Fed's "playing politics" to help Democrats.

JPMorgan Chase & Co added 1.1%, Bank of America climbed 1.6%, Wells Fargo advanced 1.5% after the big banks lowered their respective prime rates. Citigroup also rose 1.5% after cutting its base lending rate. Dell added 2.8% after declaring a quarterly cash dividend.

One reason for the muted market reaction on a close-to-close basis has to do with how asset prices moved in the days leading up to the Fed decision, said Sonu Varghese, global mac

Because the rate cut has been forecast for so long, it's largely already been priced into the value of the dollar in international markets. “Exchange rates tend to adjust when a