On the eve of the Fed meeting: inflationary pressures approach market futures fall
On the evening of March 14, U.S. stock index futures traded down, extending the day's slight decline, with more than expected inflation data bringing nervousness to the market before the Fed meeting.。
On the evening of March 14, U.S. stock index futures traded down, extending the day's slight decline, with more than expected inflation data bringing nervousness to the market before the Fed meeting.。
Technology companies fell sharply on the day, especially among AI-oriented chipmakers, but the expected long-term rise in interest rates triggered positive profit-taking in the industry。In after-hours trading, losses in the sector continued, with Ernst & Young (NASDAQ: NVDA) down 0.6%。
S & P 500 futures down 0 as of 19: 14 EST (23: 14 GMT).1%, closed at 5212.75 points; Nasdaq 100 futures down 0.2%, closed at 18,238.0 points; Dow futures down 0.1%, closed at 39309.0 point。
On that day, against the backdrop of Wall Street indices closing down and strong inflation data indicated by the Producer Price Index (PPI) and Consumer Price Index (CPI), market concerns about interest rates were reawakened, making investors very wary of hawkish signals that the central bank might release.。Although the Fed is unlikely to raise rates further, the market has begun to lower expectations for a June rate cut, especially after the PPI report.。
Wall Street's losses, however, were offset by gains in energy companies, whose shares soared to nearly five-month highs with crude oil prices.。Chevron Corp (NYSE: CVX), ExxonMobil Corp (NYSE: XOM) and ConocoPhillips (NYSE: COP) all rose more than 2% on the day and continued to rise in after-hours trading.。
On the other hand, chip manufacturing companies received a wave of profit-taking due to weak AI thrust。In addition to Nvidia's loss, peer Supermicro (NASDAQ: AMD) fell 0 in after-hours trading.4%, Arm Holdings (NASDAQ: ARM) down 0.2%。
In a highly volatile after-hours market, Adobe Systems Incorporated (NASDAQ: ADBE) fell 11% as it offered lower-than-expected second-quarter revenue guidance due to increased competition and insufficient demand for its AI services.。
Rivian Automotive Inc (NASDAQ: RIVN) Up 2.9%, after a day of 8.Piper Sandler upgraded the stock to "overweight" after a 7% decline, optimistic about R2 SUV and lower capital investment expectations。
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