Caution In US Markets Ahead of Fed Minutes, CPI Data

Business Today · Oct 8 20:28

US stock futures remained steady on Tuesday evening as investors awaited key signals from the Federal Reserve regarding interest rates, as well as important inflation data. Trading slowed after a tech-driven rally on Wall Street earlier in the day, with the S&P 500 climbing 1% to 5,751.13 points and the NASDAQ Composite rising 1.4% to 18,182.34 points. However, most other sectors lagged behind.

Futures for the S&P 500 slipped slightly to 5,798.25 points, while Nasdaq 100 futures edged down 0.1% to 20,286.50 points. Dow Jones futures held steady at 42,378.0 points. Investors remain cautious as uncertainty looms over future Fed rate cuts, especially following last week's strong payrolls data, which cast doubt on how quickly the central bank will continue to reduce rates.

Attention is now focused on the minutes from the Fed's September meeting, due on Wednesday, along with consumer price index inflation data expected on Thursday. Both events are likely to play a significant role in shaping market expectations on interest rate policy.

On Tuesday, Wall Street's gains were primarily driven by technology stocks, with NVIDIA Corporation surging 4% before retreating in after-hours trading. As markets turn their gaze towards the start of the third-quarter earnings season, major banks are set to report on Friday, and investors will be watching closely to see how corporate profits fared under high interest rates and persistent inflation.

Investing.com

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Caution In US Markets Ahead of Fed Minutes, CPI Data

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