U.S. stock futures remain steady despite a rally in technology stocks. The Federal Reserve's cautious approach to rate cuts and cooling inflation data contribute to market sentiment.
U.S. stock index futures were largely steady on Monday evening after a rally in the world’s largest technology stocks pushed Wall Street higher amid thin trading ahead of the Christmas holiday. The New York Stock Exchange is set to close early Tuesday for Christmas Eve, and the market is shut on Christmas Day.The U.S. Federal Reserve projected fewer-than-expected cuts in 2025 on Wednesday. This had led to sharp falls in all three major indexes and a weekly decline on Wall Street.
The Fed signaled a cautious approach to monetary policy adjustments, emphasizing the need for continued progress on inflation before considering further rate cuts. Markets scaled back rate cut expectations after the Fed meeting, pricing in just two more cuts in the upcoming year.Although the recent data indicates a cooling trend, the persistent elevation above the 2% target suggests that inflationary pressures are not yet fully contained.Wall Street indexes closed higher on Monday led by a surge in semiconductor stocks that gave tech a strong start to the holiday-shortened week. ) climbed 5.5% as investors continued to snap up shares of the chipmaker following its bullish quarterly results and guidance released earlier this month. ) stock rose more than 3% after a jury found its central processors are properly licensed under an agreement with UK-based ) stock surged over 81% after the video-sharing platform said it has received a strategic investment of $775 million from cryptocurrency firm ) stock gained 3.7% after the U.S. Food and Drug Administration approved the drugmaker's weight-loss treatment, Zepbound, for obstructive sleep apnea on Friday
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