On the evening of March 6, U.S. stock index futures traded down, reversing the last rally on Wall Street, given continued doubts about the magnitude and scope of the Fed's rate cut.。

Although Fed Chairman Powell said the bank will gradually cut interest rates in 2024, he also said the Fed needs to see that inflation is falling to grow confidence。This view is supported by Minneapolis Fed President Kashkari, who doesn't think the Fed will cut rates more than twice this year.。

On the same day, Powell's speech boosted expectations for a rate cut this year, so Wall Street indexes rose; but the futures market's upward momentum was limited, and Kashkari's speech was less effective.。

S & P 500 futures down 0 as of 19: 54 ET (00: 54 GMT).2% to 5,103.00 points, Nasdaq 100 futures down 0.3%, to 18,991.0 point。Dow futures down 0.1%, to 38,655.00 points。

Kashkari: Up to two rate cuts

Kashkari expects no more than two rate cuts in 2024, and probably only one.。He also stressed that recent US economic resilience could support inflation expectations and give the Fed more room to raise interest rates.。

Kashkari's comments were in line with those of other Fed members over the past two weeks, who said persistent inflation could dampen expectations of an early rate cut.。Rising long-term interest rates tend to put pressure on the economy, reducing corporate profitability and also weakening the attractiveness of risky assets such as equities。The non-farm payrolls data to be released on Friday (March 8) may reveal more about the U.S. economy.。

Wall Street indexes near all-time high

Wall Street indices fell sharply earlier in the week due to sharp profit-taking in the tech sector, but were back near all-time highs on Wednesday。Technology remains the main driver of US stock indexes, especially as investors are optimistic about the potential of artificial intelligence。

S & P 500 up 0.5% to 5,104.76 points, Nasdaq composite up more than 0.6%, to 16,031.54 points。Dow Jones Industrial Average Up 0.2% to 38,661.05 points。

Companies up and down

Victoria's Secret (NYSE: VSCO) has posted a lower-than-expected forecast for 2024, causing it to fall 20% in after-hours trading.

Cybersecurity firm OneSpan Inc (NASDAQ: OSPN) reports better-than-expected quarterly earnings, up more than 30% in after-hours trading。

New York Community Bank Inc. (NYSE: NYCB) continued to recover in after-hours trading as it raised more than $1 billion in new capital。