Us Stock Futures Move Lower

last updated on

Us Stock Futures Move Lower

US Stock Futures Move Lower As Rate Cut Rally Ends

It seems that it is now business as usual in US stock futures as they are now trending lower after the end of the rate cut rally.

The deep rate cut was rejoiced by the US stock index futures, with the technology stocks leading the charge. The rate cut was enough to send many US stock indexes to new highs.

Fedex Drops While Nvidia Gains

The FedEx Corp (FDX) was also in the news after the announcement of earnings, which was below the forecast. This has sent the FDX stock tumbling in the aftermarket trade.

The initial reaction of Wall Street was mixed, but it eventually turned bullish. However, the Fed Powell comments were dovish which has made the US stocks bearish again.

Despite all of this, the current environment is much better for US stocks as compared to the era of higher rates. Now, the eyes are on BoJ to see whether we are going to get a hawkish surprise.

The S&P 500 Futures are trading near 5773 with a -0.1% change. Similarly, the Nasdaq 100 futures are trading at 20060 with a 0.1% change. The DIA futures actually moved up to 42462.

So, despite the short-term weakness, the US stock markets are still in a bullish mode. Especially, the S&P 500 and the DJIA closed at record highs amid an improvement in the sentiment.

The highlight of the day was the technology sector with big names such as Nvidia, AMD, and others leading the charge. The Nvidia Corp (NVDA) actually jumped by 4%, which shows that the AI rally is still ongoing.

Going forward, the investors now want clarity on the timeline of the next rate cut by the US central bank. The US CPI and the NFP will play a key role in allowing the Federal Reserve to figure out its next move.

Trending Stories