Futures fall as chip stocks drag, Fed rate decision awaited

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 45 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 35%
  • Publisher: 63%

Economic Data News

Stock Index Futures,Interest Rate,The Federal Reserve

Advanced Micro Devices shed 6.3% in premarket trading after its forecast for AI chip sales failed to impress investors, while Super Micro Computer lost 9.1% ...

- U.S. stock index futures fell on Wednesday as downbeat results dragged chip stocks and markets exercised caution ahead of more economic data and the Federal Reserve's interest rate decision later in the day.

"FOMC meeting is likely to confirm that, from a global perspective, the script has flipped. Everyone thought the Fed would be the first or one of the first central banks to cut rates this cycle, now it looks like it will be one of the last," said Brendan Murphy, Head of Global Fixed Income, North America, at Insight Investment.

A sharp pullback in rate cut bets and tensions in the Middle East made April a rough month for U.S. equities, with all three stock indexes posting their first monthly loss in six.Their performance in May will be put to the test as the rest of the first-quarter earnings season continues and the interest rate outlook becomes clearer.

Among other movers, Starbucks dropped 12% premarket as the coffee giant cut its annual sales forecast after reporting a fall in same-store sales for the first time in nearly three years.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: US futures hit pause with Fed in focus, Amazon earnings on deckInvestors marked time ahead of the Fed's rate decision, with earnings from Amazon on deck to test prospects for a Big Tech-fueled bump.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Futures rise as chip stocks bounce back after sell-offChipmakers such as Advanced Micro Devices, Nvidia and Applied Materials gained between 0.3% and 0.7% in premarket trading. Micron Technology advanced 1.7...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »