Stock futures were lower Friday, putting major indexes on pace to post weekly losses, as the election-fueled rally that sparked a series of record highs fizzles.

U.S. stock futures pointed to another day of losses Friday as investors absorbed the message of Fed Chair Jerome Powell that the central bank may not pursue rate cuts aggressively. Dow Jones Industrial Average futures fell 204 points,

Indexes slipped as traders zeroed in on remarks from Fed Chair Jerome Powell, who said the central bank is in no hurry to cut rates amid a strong economy.