Investing.com UK on Nostr: US stock futures edge lower with CPI data set to offer more rate cues ========== US ...
US stock futures edge lower with CPI data set to offer more rate cues
==========
US stock index futures fell slightly in evening deals on Wednesday, cooling after a recent rally on Wall Street as focus turned towards upcoming inflation data to set the stage for interest rate cuts by the Federal Reserve. S&P 500 Futures fell 0.1% to 5,684.25 points, while Nasdaq 100 Futures fell 0.1% to 20,887.0 points by 19:06 ET (23:06 GMT). Dow Jones Futures fell 0.1% to 40,019.0 points. Powell reiterated that the Fed remained committed to its 2% inflation target, which put upcoming consumer price index data squarely in focus. Data on Thursday is expected to show inflation eased slightly in June, while remained sticky. U.S. stock indexes were encouraged by Powell’s comments, with the S&P 500 and the Nasdaq Composite surging to record highs on Wednesday. Gains in heavyweight technology stocks were the biggest drivers of the rally on continued hype over artificial intelligence, although non-tech stocks also advanced. Energy stocks were boosted by gains in oil prices, as data showed a sustained draw in U.S. inventories. Among major aftermarket movers, supermarket chain Costco Wholesale Corp rose 3% after it announced plans to increase annual membership fees. Chemicals firm WD-40 Company surged 9% after clocking strong quarterly earnings, while aluminum giant Alcoa rose 2.5% after also clocking strong earnings. Alcoa’s results usually mark the beginning of the quarterly earnings season, with several major banks set to report on Friday.
#UsStockFutures #CpiData #InterestRates #FederalReserve
https://uk.investing.com/news/stock-market-news/us-stock-futures-edge-lower-with-cpi-data-set-to-offer-more-rate-cues-3585198
==========
US stock index futures fell slightly in evening deals on Wednesday, cooling after a recent rally on Wall Street as focus turned towards upcoming inflation data to set the stage for interest rate cuts by the Federal Reserve. S&P 500 Futures fell 0.1% to 5,684.25 points, while Nasdaq 100 Futures fell 0.1% to 20,887.0 points by 19:06 ET (23:06 GMT). Dow Jones Futures fell 0.1% to 40,019.0 points. Powell reiterated that the Fed remained committed to its 2% inflation target, which put upcoming consumer price index data squarely in focus. Data on Thursday is expected to show inflation eased slightly in June, while remained sticky. U.S. stock indexes were encouraged by Powell’s comments, with the S&P 500 and the Nasdaq Composite surging to record highs on Wednesday. Gains in heavyweight technology stocks were the biggest drivers of the rally on continued hype over artificial intelligence, although non-tech stocks also advanced. Energy stocks were boosted by gains in oil prices, as data showed a sustained draw in U.S. inventories. Among major aftermarket movers, supermarket chain Costco Wholesale Corp rose 3% after it announced plans to increase annual membership fees. Chemicals firm WD-40 Company surged 9% after clocking strong quarterly earnings, while aluminum giant Alcoa rose 2.5% after also clocking strong earnings. Alcoa’s results usually mark the beginning of the quarterly earnings season, with several major banks set to report on Friday.
#UsStockFutures #CpiData #InterestRates #FederalReserve
https://uk.investing.com/news/stock-market-news/us-stock-futures-edge-lower-with-cpi-data-set-to-offer-more-rate-cues-3585198