US Futures Inch Up Ahead of Fed
Futures tracking US equities inched higher on Monday, halting losses from the week as markets assessed how the economy may fare against higher interest rates and whether fresh calls to slow down AI development will hamper infrastructure expenditure. Contracts for the S&P 500 and Nasdaq 100 rose 0.3% from six-week lows yesterday, and the Dow gained 100 points. The Federal Reserve is expected to raise interest rates by 25bps later in the meeting, although the Summary of Economic Projections is likely to show a fragmented FOMC as uncertain outlooks spark disagreements on policy and forward guidance. Chip producers and hardware companies extended yesterday's rebound after concerns over AI safety risks voiced by Anthropic and OpenAI jeopardized the momentum of soaring hyperscaler capital expenditure. Intel, Marvell, and Dell gained over 3% premarket. In turn, banks, retail, and pharmaceutical companies were flat.
Futures tracking US equities inched higher on Monday, halting losses from the week as markets assessed how the economy may fare against higher interest rates and whether fresh calls to slow down AI development will hamper infrastructure expenditure. 3% from six-week lows yesterday, and the Dow gained 100 points. The Federal Reserve is expected to raise interest rates by 25bps later in the meeting, although the Summary of Economic Projections is likely to show a fragmented FOMC as uncertain outlooks spark disagreements on policy and forward guidance.
Chip producers and hardware companies extended yesterday's rebound after concerns over AI safety risks voiced by Anthropic and OpenAI jeopardized the momentum of soaring hyperscaler capital expenditure. Intel, Marvell, and Dell gained over 3% premarket. In turn, banks, retail, and pharmaceutical companies were flat.