US stock futures trade sideways as more Fed officials speak, rate clues awaitedInvesting.com--U.S. stock index futures traded flatly in evening sessions on Wednesday as the recent Wall Street rebound stalled following warnings from several Federal Reserve officials indicating a prolonged period of elevated interest rates.
This has shifted attention to forthcoming speeches by additional Fed officials on Thursday and Friday, particularly after recent data suggesting a moderation in the U.S. economy.
Additionally, lackluster quarterly earnings reports weighed on sentiment, with chip designer Arm Holdings (NASDAQ:ARM) and homestay platform Airbnb Inc (NASDAQ:ABNB) experiencing declines in aftermarket trading.
S&P 500 Futures slipped 0.1% to 5,209.75 points, while Nasdaq 100 Futures edged down 0.1% to 18,163.75 points by 19:16 ET (23:16 GMT). Dow Jones Futures remained steady at 39,196.0 points.
Wall Street stalls as Fed officials downplay rate cut expectationsA recent Wall Street recovery lost momentum on Wednesday after a series of comments from Fed officials suggested that the central bank is more likely to maintain current interest rates amid persistent concerns about inflation.
Despite signs of cooling in the labor market, which was also noted by the Fed, worries over sticky inflation appear to be the primary driver for keeping rates unchanged.
The Fed remarks triggered a rebound in the dollar and Treasury yields, subsequently exerting downward pressure on stock markets. The S&P 500 ended the day flat at 5,187.67 points on Wednesday, while the NASDAQ Composite slipped nearly 0.2% to 16,302.76 points.
On the other hand, the Dow Jones Industrial Average climbed 0.4% to 39,056.39 points, buoyed by gains in Amgen (NASDAQ:AMGN) amid ongoing optimism surrounding the drugmaker’s weight loss injection.
Third-party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.More Fed officials are scheduled to speak in the coming days, with San Francisco Fed President Mary Daly set to deliver remarks on Thursday, while Chicago Fed President Austan Goolsbee will speak on Friday.
Apart from Fed commentary, key U.S. inflation data releases are anticipated next week.
Arm tumbles on weak guidance, rattling chipmakersBritish chip designer Arm saw its shares plummet nearly 10% in aftermarket trading after its annual revenue guidance failed to meet investor expectations.
Although Arm’s March-quarter earnings exceeded estimates, the disappointing guidance raised doubts about the extent to which the recent surge in valuations, driven by artificial intelligence, was justified.
The news from Arm led to declines in shares of chipmakers NVIDIA Corporation (NASDAQ:NVDA) and Advanced Micro Devices Inc (NASDAQ:AMD) in aftermarket trading. AMD reported largely in-line March-quarter earnings, while Nvidia is set to announce its earnings for the period next week.
Among other movers in aftermarket trading, Airbnb declined 7% on disappointing annual guidance, while Bumble Inc (NASDAQ:BMBL) rose on forecasting strong earnings growth.
Trading platform Robinhood Markets Inc (NASDAQ:HOOD) gained nearly 4% after reporting strong quarterly earnings driven by increased user figures.
"Catching a Wave: Riding the USD/JPY Trend - What Signals Led You to Enter Long?"
This has shifted attention to forthcoming speeches by additional Fed officials on Thursday and Friday, particularly after recent data suggesting a moderation in the U.S. economy.
Additionally, lackluster quarterly earnings reports weighed on sentiment, with chip designer Arm Holdings (NASDAQ:ARM) and homestay platform Airbnb Inc (NASDAQ:ABNB) experiencing declines in aftermarket trading.
S&P 500 Futures slipped 0.1% to 5,209.75 points, while Nasdaq 100 Futures edged down 0.1% to 18,163.75 points by 19:16 ET (23:16 GMT). Dow Jones Futures remained steady at 39,196.0 points.
Wall Street stalls as Fed officials downplay rate cut expectationsA recent Wall Street recovery lost momentum on Wednesday after a series of comments from Fed officials suggested that the central bank is more likely to maintain current interest rates amid persistent concerns about inflation.
Despite signs of cooling in the labor market, which was also noted by the Fed, worries over sticky inflation appear to be the primary driver for keeping rates unchanged.
The Fed remarks triggered a rebound in the dollar and Treasury yields, subsequently exerting downward pressure on stock markets. The S&P 500 ended the day flat at 5,187.67 points on Wednesday, while the NASDAQ Composite slipped nearly 0.2% to 16,302.76 points.
On the other hand, the Dow Jones Industrial Average climbed 0.4% to 39,056.39 points, buoyed by gains in Amgen (NASDAQ:AMGN) amid ongoing optimism surrounding the drugmaker’s weight loss injection.
Third-party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.More Fed officials are scheduled to speak in the coming days, with San Francisco Fed President Mary Daly set to deliver remarks on Thursday, while Chicago Fed President Austan Goolsbee will speak on Friday.
Apart from Fed commentary, key U.S. inflation data releases are anticipated next week.
Arm tumbles on weak guidance, rattling chipmakersBritish chip designer Arm saw its shares plummet nearly 10% in aftermarket trading after its annual revenue guidance failed to meet investor expectations.
Although Arm’s March-quarter earnings exceeded estimates, the disappointing guidance raised doubts about the extent to which the recent surge in valuations, driven by artificial intelligence, was justified.
The news from Arm led to declines in shares of chipmakers NVIDIA Corporation (NASDAQ:NVDA) and Advanced Micro Devices Inc (NASDAQ:AMD) in aftermarket trading. AMD reported largely in-line March-quarter earnings, while Nvidia is set to announce its earnings for the period next week.
Among other movers in aftermarket trading, Airbnb declined 7% on disappointing annual guidance, while Bumble Inc (NASDAQ:BMBL) rose on forecasting strong earnings growth.
Trading platform Robinhood Markets Inc (NASDAQ:HOOD) gained nearly 4% after reporting strong quarterly earnings driven by increased user figures.
"Catching a Wave: Riding the USD/JPY Trend - What Signals Led You to Enter Long?"
