U.S. futures fall on Fed concerns and Apple profit-taking
Apple's loss triggered a broader profit-taking in tech stocks, which surged on growing optimism about AI growth prospects。
U.S. stock index futures fell slightly late Monday, extending Wall Street's decline as traders moved away from recent record highs amid uncertainty about the outlook for U.S. interest rates。Investor risk aversion has also increased in the run-up to Super Tuesday, a day when 15 states hold their presidential election primaries, an event expected to pave the way for another showdown between incumbent President Joe Biden and former Donald Trump.。
S & P 500 futures down 0 as of 19: 12 ET (00: 12 GMT).1% to 5,132.75 points, Nasdaq 100 futures down 0.2% to 18,232.0 point。Dow futures down 0.1%, to 38,974.00 points。
On Monday, Wall Street indexes retreated from record highs, and the decline was particularly pronounced in technology stocks, including Apple, which fell 2 percent after suffering a $2 billion antitrust fine in Europe.。
Apple's loss triggered a broader profit-taking in tech stocks, which surged on growing optimism about AI growth prospects。
S & P 500 down 0.1%, to 5,130.95 points, Nasdaq composite down 0.4%, to 16,207.51 points。Dow Jones Industrial Average Down 0.3%, to 38,989.83 points, although the three major indexes remain close to the record highs set last week。
Investors closely watch Powell and jobs data for potential rate correction signals。
Fed Chairman Jerome Powell is expected to attend congressional hearings on Wednesday and Thursday and offer fresh monetary policy clues.。
Analysts expect Powell to continue his hawkish stance and emphasize that the central bank needs more evidence that inflation is close to its annual 2 percent target.。
Several Fed members warned that they should not bet on an early rate cut by the central bank because of concerns about continued inflation and the strength of the U.S. economy.。Atlanta Fed President Rafael Bostic warned Monday that continued bets on the central bank's early rate cuts could lead to increased inflationary pressures。
Still, analysts predict the Fed will have enough certainty to start cutting rates by June。After Powell's hearing, this week's focus is on key non-farm payrolls data for February。
Apple continues to fall in after-hours trading; Gitlab shares fall。
Apple drops 0 in after-hours trading.3%, having previously fallen more than 2% during the trading session。iPhone maker says it will challenge $2 billion fine。
Gitlab company down 21% as it releases lower-than-expected first-quarter forecast。
Albemarle due to issue 17.$500 million in stocks, down 7%, but further commodity price declines also weighed on。
AeroVironment up more than 20% on strong results。
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