U.S. market futures steady after Wall Street plunge
U.S. stock index futures held steady late Tuesday (March 5) as Wall Street recovered from a record sharp decline and the focus turned to the upcoming speech by Federal Reserve Chairman Jerome Powell。
U.S. stock index futures held steady late Tuesday (March 5) as Wall Street recovered from a record sharp decline and the focus turned to the upcoming speech by Federal Reserve Chairman Jerome Powell。
Wall Street suffered heavy losses on the day, driven by a marked retreat in technology and concerns about U.S. interest rates。However, index futures showed a stable stock market and investors turned their attention to more monetary policy indicators.。
S & P 500 futures up 0 as of 18: 22 Eastern.1%, at 5,088.75 points, Nasdaq 100 futures up 0.2% at 17,964.50, Dow futures edge up to 38,622.00 points。
Powell's testimony also came as Fed officials warned that continued inflation would prevent the central bank from considering a rate cut in the near future, which is expected to remain hawkish.。
The data also shows that the U.S. economy has remained fairly resilient, giving the Fed more room to maintain high interest rates for an extended period of time。Friday's expected non-farm payrolls data is expected to provide new clues to this。Still, economists believe the Fed will have enough clues to decide whether to cut rates by June, which is highly likely.。
Concerns about Powell drove the S & P 500 down 1% on Tuesday at 5,078.65 points, Nasdaq composite index down 1.6%, at 15,939.59 points。Dow Jones industrial average down 1% to 38,585.19: 00。
Losses in tech stocks were the most significant drag on Wall Street, which experienced a sharp funding rally in February.。Concerns about the long-term sustainability of the recent AI-driven surge also added to the market's losses.。According to the analysis, if artificial intelligence can not become a major transformation of enterprises, then most of the fourth quarter gains will be "in jeopardy."。
Leading post-market gains were CrowdStrike Holdings Inc (NASDAQ: CRWD), up 23.5%, with quarterly profit and forecasts exceeding expectations。The company's growth also boosted its peers, including Palo Alto Networks Inc (NASDAQ: PANW), Zscaler Inc (NASDAQ: ZS) and Fortinet Inc (NASDAQ: FTNT), up 3% to 4%.。Luxury department store giant Nordstrom Inc (NYSE: JWN) fell 9% as it missed annual earnings estimates。
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