Investors await the Fed’s preferred inflation measure after Snowflake’s post-earnings surge lifts tech sentiment.
Dow Jones futures edged lower early Thursday, mirroring modest declines in S&P 500 and Nasdaq futures, as traders positioned ahead of the core PCE price index release. The gauge, the Federal Reserve’s favored inflation metric, is due before the market open and could sway rate-cut expectations.
On Wednesday, major indexes closed slightly higher, with the Dow, S&P 500, and Nasdaq all hovering near record levels. Snowflake shares surged 39% in extended trading after reporting stronger-than-expected earnings, while Marvell Technology posted a modest gain on its results.
Oil prices rose marginally, adding to cautious pre-data sentiment. Market focus remains on whether inflation data will support or delay potential Fed easing later this year.