Traders reviewed results from Microsoft and Meta Platforms, and they looked ahead to a key inflation reading due Thursday morning.
Stock futures slid on Wednesday evening, as Wall Street absorbed a fresh batch of earnings reports from megacap technology names., which showed that the economy grew at a 2.8% annualized rate, falling short of the 3.1% consensus forecast from Dow Jones.for September. This also happens to be the Federal Reserve's preferred inflation indicator. Economists polled by Dow Jones expect that the PCE grew by 0.2% on a monthly basis and 2.1% from a year earlier.
This PCE reading, along with Friday's October payrolls report, will inform the Fed's interest rate decision on Nov. 7 when it ends its two-day policy meeting."Growth up, inflation down is precisely what you want to see," said Jamie Cox, managing director a Harris Financial Group."The Fed doesn't need to be afraid of a stable and growing economy to normalize rates this cycle so long as disinflation persists.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P 500 hits record to start the week, traders look to key earnings: Live updatesThe early signs of recovery in the banking sector helped push the broader market to all-time highs at the end of last week.
Read more »
Stock futures inch higher after S&P 500's best weekly win streak of 2024: Live updatesThe Dow Jones Industrial Average and S&P 500 on Friday registered their sixth straight weekly advance, this year’s best for both benchmarks.
Read more »
S&P 500 rebounds from Monday's decline as oil prices ease: Live updatesThe three major indexes finished Monday's session in the red on higher yields and oil prices.
Read more »
Asia-Pacific markets open higher after S&P 500 and Dow hit new highs: Live updatesAsia-Pacific markets open higher after the S&P 500 and Dow Jones Industrial Average shook off geopolitical concerns and reached new highs.
Read more »
S&P 500 futures tick higher as Alphabet shares jump on earnings beat: Live updatesA slew of key financial reports kicked off the busiest week of earnings season.
Read more »
S&P 500 futures retreat from record after data showing sticky inflation, weakening labor market: Live updatesU.S. stock futures dipped Thursday as investors weighed a slightly hotter-than-expected consumer price index report for September.
Read more »