From Barchart: 2024-03-28 07:34:30

U.S. stock index futures were slow on Thursday, with investors awaiting more data to determine the Federal Reserve’s policy direction as the first quarter nears its end. The Dow was close to hitting 40,000, with all three indexes on track for strong gains fueled by AI and optimism around rate cuts. Inflation data could impact market sentiment heading into the long weekend.

Inflation concerns remain as Fed Governor Christopher Waller suggests holding off on rate cuts based on recent data. Traders predict a 64% chance of the Fed starting an easing cycle in June. Individual stocks like Nvidia and Take-Two Interactive Software saw fluctuations, while cryptocurrency-related companies gained as bitcoin recovered.

Overall, U.S. stocks are poised for robust quarterly gains, with the Philadelphia Semiconductor Index set for double-digit gains. The market is closely watching for economic data releases and Fed announcements to gauge the direction of interest rates in the coming months. Investors should stay vigilant amidst potential market volatility during the Easter break.

Read more at Nasdaq: US STOCKS-Futures flat ahead of Easter break, Wall St set for sharp Q1 gains