Stock market futures edged up on Thursday as investors awaited key economic data releases that could influence the Federal Reserve’s upcoming policy decision.
Focus on inflation and consumer spending:
- February’s producer price data, due at 8:30 AM ET, is expected to shed light on inflation trends.
- Retail sales figures will provide insights into consumer spending patterns.
Labor market strength:
- Weekly jobless claims data will also be released at 8:30 AM ET, offering a gauge of the labor market’s health.
Fed meeting next week:
- Recent inflation data, though slightly higher than expected, hasn’t deterred hopes of potential Fed rate cuts in the coming months.
- Market expectation leans towards a first rate cut in June, based on the CME FedWatch Tool.
- Investors are looking for clues from the Fed on the timing of potential rate adjustments.
Market movements:
- Stock market indexes rose slightly in pre-market trading.
- Chipmakers recovered some losses after Wednesday’s decline.
- Robinhood surged after reporting a rise in assets under custody.
- Citigroup gained on an upgrade from Goldman Sachs.
- SentinelOne fell after lower-than-expected revenue forecast.
- RTX climbed after an upgrade from Wells Fargo.
Other notable news:
- Goldman Sachs plans to increase investment in US commercial real estate due to perceived market improvement.
- Investors anticipate AI-related announcements at the upcoming GTC developer conference.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investing involves inherent risks, and past performance does not guarantee future results. Readers are encouraged to conduct their own research and due diligence before making any investment decisions.
