From Nasdaq:

Futures for Dow Jones dropped slightly by 0.02%, while S&P 500 and Nasdaq futures rose by 0.34% and 0.65% respectively. Investors are keeping an eye on the Federal Reserve’s meeting for hints on future monetary policy decisions following stronger-than-expected inflation data and recent stock market highs.

Recent inflation data has caused investors to reassess expectations for rate cuts, with bets on a June rate cut falling to 57% from 71%. Wall Street hit all-time highs in March, particularly driven by AI optimism. Tech stocks may face pressure if the Federal Reserve adopts a hawkish stance in its upcoming meeting.

Investors are looking forward to Nvidia’s GTC developer conference for AI-related announcements, boosting shares of AI companies like Nvidia and peers Micron Technology and Advanced Micro Devices. Pre-market trading shows a rise in most megacap growth and technology shares.

Notable movements in the pre-market include Alphabet shares gaining 3.1% on news of a potential partnership with Apple, and Tesla rising by 3.3% after announcing price increases for its Model Y EVs in Europe. Xpeng shares also saw a 7.0% increase due to plans to launch a new cheaper EV brand. Boeing experienced a 1.1% drop after reports of a federal grand jury subpoena.

Contact the author Bansari Mayur Kamdar for more information on this news. The author’s views and opinions do not necessarily represent Nasdaq, Inc.



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