US stock futures rise as tech rout pauses; PCE data awaited
Investing.com-- U.S. stock index futures rose in evening deals on Thursday as heavyweight technology stocks appeared to be easing from bruising losses in recent sessions, with focus turning to key upcoming inflation data.
Futures rose after Wall Street endured another mostly negative session, following some disappointing major tech earnings earlier this week. But the pace of losses in tech stocks now appeared to be slowing.Heavyweight technology stocks steadied in after-hours trading after logging steep losses over the past week. Selling in tech intensified this week following underwhelming earnings from Tesla Inc all moved in a tight range.
Tech earnings are set to continue in the coming week, with Microsoft and Apple due on Tuesday and Thursday, respectively. Prints from Advanced Micro Devices Inc (NASDAQ:Selling in tech was also driven by increased expectations for interest rate cuts, which saw investors lock profits in the sector and pivot into stocks with more exposure to an economic recovery.data due later on Friday is set to provide more cues on the rates front.
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