Today, US stock market futures are extending their positive trend, continuing the momentum from the previous days.
However, the next two days could fuel some volatility, with market optimism facing a test from today’s Consumer Price Index (CPI) data. Investors could react to the actual figures, which could affect expectations of an early interest rate cut.
This anticipation builds towards tomorrow’s highly awaited Federal Reserve meeting when the institution is expected to hold its interest rates unchanged.
The Fed’s cautious, data-dependent approach is likely to persist, especially in light of the labor market’s ongoing resilience last week.
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The technology sector, which recorded a positive performance yesterday, could face headwinds today. Shares of tech giant Oracle dropped over 8% in pre-market hours in reaction to the company’s earnings release which fell short of expectations.
Additionally, Alphabet’s legal setback against Epic Games is contributing to its negative performance both yesterday and in today’s pre-market.
On a brighter note, the semiconductor industry shone as a strong performer yesterday, buoyed by a 9% surge in Broadcom following Citigroup’s buy rating.
