US stock futures rose on Wednesday, looking to find a footing after hotter-than-expected inflation data drove a selloff and dashed hopes for interest-rate cuts before the summer.
US stock futures rose on Wednesday, looking to find a footing after hotter-than-expected inflation data drove a selloff and dashed hopes for interest-rate cuts before the summer. Dow Jones Industrial Average (^DJI) futures added 0.2%, signaling a bounce back for the blue-chip index from a 500-point drop and its worst day since March 2022. Futures on the S&P 500 (^GSPC) put on roughly 0.4%, while those on the tech-heavy Nasdaq 100 (^NDX) jumped 0.5% — also on the heels of sharp declines.
Calm is settling in after the surprise consumer inflation print spooked the market. Investors are coming to grips with the prospect of the Federal Reserve holding fire on rate cuts until later in the year — and a potential "no landing" for the US economy. Read more: What the Fed rate decision means for bank accounts, CDs, loans, and credit cards Shares in Microsoft (MSFT) and Apple (AAPL) were recovering somewhat in premarket after the rate-sensitive tech megacaps sank in the stock rout. Meanwhile, the 10-year Treasury yield (^TNX) pulled back slightly from the previous day's jump to trade around
US Stock Futures Inflation Data Selloff Interest-Rate Cuts Dow Jones Industrial Average S&P 500 Nasdaq 100 Federal Reserve Microsoft Apple Rate-Sensitive Tech Megacaps Stock Rout 10-Year Treasury Yield
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