Stock futures remained relatively unchanged on Wednesday afternoon following the S&P 500’s record close. Dow Jones Industrial Average futures dipped slightly, while S&P 500 and Nasdaq-100 futures saw slight gains.
Wall Street had a mixed session as Federal Reserve Chair Jerome Powell warned that keeping rates high for too long could harm economic growth. The S&P 500 and Nasdaq Composite reached new highs, while the Dow ticked down slightly.
Powell emphasized the importance of monitoring economic data to ensure inflation stays on track. Wednesday saw minimal economic data releases, with the focus shifting to upcoming reports on wholesale inventories, consumer price index, and producer price index.
Market analysts are eyeing the upcoming CPI print as a crucial indicator for potential rate cuts. SoFi’s head of investment strategy, Liz Young Thomas, highlighted the importance of the data releases in shaping market expectations for future monetary policy decisions.