Wall Street futures fall as concerns over cooling economy and cautious Fed arise
From Yahoo Finance: 2024-06-14 06:08:33
U.S. stock index futures fell on Friday as the S&P 500 and the Nasdaq declined from consecutive record highs, reflecting concerns over a cooling economy. Despite tech shares driving the S&P 500 and Nasdaq to all-time highs, producer prices dropped unexpectedly in May, and jobless claims surged, raising hopes for a Fed rate cut. The central bank tempered expectations for cuts, but markets anticipate a September rate cut and potentially two by year-end. Chip stocks, led by Broadcom, hit all-time highs, while megacaps like Amazon and Microsoft dipped pre-market. Dow futures and small-cap Russell 2000 futures dropped, signaling a mixed week for major indexes. Amidst record highs and economic worries, investors are eyeing Fed comments and data releases later today.
Read more at Yahoo Finance: Wall Street futures pull back as markets eye cautious Fed