U.S. stock index futures fell slightly on Tuesday evening as a recovery in technology stocks remained fragile, while caution before a string of economic cues and Federal Reserve commentary kept markets on edge.
Futures retreated after a mildly positive session on Wall Street, as tech attempted a recovery from recent losses. But the rebound was largely mixed, as concerns over artificial intelligence-driven disruptions in the sector persisted.
S&P 500 Futures fell 0.1% to 6,851.50 points, while Nasdaq 100 Futures fell 0.2% to 24,721.0 points by 19:55 ET (00:55 GMT). Dow Jones Futures fell 0.1% to 49,553.0 points.
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Econ. data, Fed minutes awaited for more rate cues Focus in the coming days will be squarely on a host of key economic indicators, as well as the minutes of the Fed’s January meeting for more cues on the world’s largest economy.
The Fed minutes are due on Wednesday afternoon, and are expected to provide more insight into the central bank’s plans for interest rates. The Fed had left rates unchanged in January and had flagged continued caution over sticky inflation and labor market weakness.
Industrial production data for January is due on Wednesday, while PCE price index data for December is due on Friday.
The PCE print is the Fed’s preferred inflation gauge, and is likely to factor into the central bank’s long-term outlook on interest rates.
Uncertainty over the Fed was a major weight on Wall Street in recent weeks, especially after President Donald Trump’s nominee for the next Fed Chair, Kevin Warsh, was viewed as a less dovish choice.
Nvidia, Meta curb aftermarket gains; AMD trims losses NVIDIA Corporation (NASDAQ:NVDA) and Meta Platforms Inc (NASDAQ:META) curbed some of their aftermarket gains, rising about 0.6% apiece.
The two had risen over 1% after they announced a multi-year partnership to build out more AI infrastructure, with Nvidia set to supply Meta with millions of chips.
Nvidia rival AMD (NASDAQ:AMD) had fallen as much as 4% after the deal, but trimmed some of its losses to trade down about 2%.
Tech stocks remained skittish after concerns over AI-related disruptions, especially in software, spurred weeks of declines in the sector. Some doubts over stretched AI spending and the long-term prospects of the tech also weighed on the sector.
Wall St edges higher on mixed tech recovery Wall Street indexes rose marginally on Tuesday, aided by a mixed recovery in tech and as financial shares also provided some support.
The S&P 500 rose 0.1% to 6,843.22 points, while the NASDAQ Composite rose 0.1% to 22,578.38 points. The Dow Jones Industrial Average rose 0.07% to 49,533.19 points.
Tech shares recovered a small measure of recent losses, amid some dip-buying, although heavyweights such as Microsoft Corporation (NASDAQ:MSFT), Tesla Inc (NASDAQ:TSLA), Alphabet Inc (NASDAQ:GOOGL), and Oracle Corporation (NYSE:ORCL) fell further after last week’s losses.
