From Investing.com: 2024-05-14 20:24:22

U.S. stock index futures remained stable after Wall Street reacted calmly to stronger-than-expected producer inflation data, with attention shifting to the upcoming consumer price index reading. Federal Reserve Chair Jerome Powell’s comments suggesting no further interest rate hikes in 2024 influenced market strength.

The awaited CPI reading for April has markets on edge following a hotter-than-expected PPI data release, fueling concerns about persistent U.S. inflation and potential impacts on Fed interest rate decisions. Additionally, U.S. job market data for April is set to be released later in the day.

Despite initial gains, the stock market faces uncertainty ahead of the CPI data release. The Nasdaq hit a record high close, rising 0.8% to finish at 16,511.18 points, with the S&P 500 and Dow also posting gains on Tuesday.

Meme stocks, including GameStop Corp, AMC Entertainment Holdings Inc, and BlackBerry Ltd, continued to show strength in aftermarket trading. GME and AMC, central to the recent meme stock rally, saw significant gains after a key figure in the meme stock community reappeared on social media.



Read more at Investing.com: US stock futures flat after strong session; CPI data awaited By Investing.com