From Nasdaq: 2024-03-28 05:42:41

U.S. stock index futures were lackluster on Thursday, with Dow futures down 0.01%, S&P down 0.11%, and Nasdaq down 0.19%. Investors are awaiting more data on the economy and the Federal Reserve’s policy path heading into the long weekend break.

All major U.S. stock indexes ended higher on Wednesday, with Dow jumping over 1% and S&P hitting an all-time closing high. On Thursday, focus will be on GDP data, consumer sentiment survey, and weekly jobless claims. The market will also watch for the PCE Price Index on Good Friday when the U.S. stock market is closed.

Fed Governor Waller’s comments suggest potential rate cuts later in the year, aligning with a hawkish stance. Traders see a 60% chance of the Fed easing in June. Optimism about rate cuts and AI-fueled rally contributed to strong quarterly gains for the indexes.

Before trading began, growth stocks like Nvidia and Take-Two Interactive Software saw declines. Cryptocurrency and blockchain-related companies, including Coinbase and MicroStrategy, rose as bitcoin and ethereum prices recovered after a brief slump. Overall, U.S. stocks are poised for significant quarterly gains.

Read more at Nasdaq: US STOCKS-Futures range-bound ahead of long weekend break