From Investing.com: 2024-05-15 20:30:06

U.S. stock index futures rose after weaker consumer inflation data boosted hopes for interest rate cuts. The Nasdaq rose 0.1%, S&P 500 0.2%, and Dow Jones 0.1% after hours. Inflation remained above target, but expectations for a 25 basis point rate cut in September increased to 53.8%.

Technology stocks surged, with Nasdaq up 1.2%, S&P 500 1.4%, and Dow Jones 0.9%, all closing at record highs. Meme stocks like GameStop and AMC tumbled around 20% amid a two-day rally. Aftermarket saw Chubb’s record high after Berkshire Hathaway revealed a $6.72 billion stake, while Cisco rose 5%.

Shares of insurer Chubb Ltd soared over 7% to record highs in after-hours trade after Warren Buffett’s Berkshire Hathaway disclosed a $6.72 billion stake in the firm. Cisco Systems Inc climbed nearly 5% following strong quarterly earnings. Cool consumer inflation data boosted hopes for interest rate cuts in September.



Read more at Investing.com: US stock futures rise as cooling inflation powers Wall St to record high By Investing.com