Futures lower, Salesforce to report, Tesla's Roadster - what's moving markets

investing.com:

Investing.com -- U.S. stock futures tick down on Wednesday ahead of crucial economic data releases this week. Salesforce (NYSE:CRM) is expected to post record quarterly revenue, while analysts are eager to measure the success of an artificial intelligence push at the software group's data cloud division. Elon Musk says Tesla has finished the production design of its new Roadster, adding that the electric vehicle giant hopes to start shipping the car in 2025.

1. Futures edge lower

Stock futures on Wall Street pointed lower, as investors awaited a raft of incoming U.S. economic data that could impact the timing of potential Federal Reserve interest rate cuts this year.

By 03:12 ET (08:12 GMT), the Dow futures contract had shed 60 points or 0.2%, S&P 500 futures had dipped by 7 points or 0.1%, and Nasdaq 100 futures had lost 47 points or 0.3%.

The main averages were mixed in the prior session, with attention turning in particular to the publication on Thursday of the January personal consumption expenditures price index (PCE), a key inflation gauge.

Traders have been monitoring on a stock market rally powered by soaring enthusiasm for the applications of artificial intelligence that has pushed the S&P 500 and Dow Jones Industrial Average up to record levels. But with a stream of corporate earnings ebbing, the focus is returning to economic figures and the possible path ahead for U.S. borrowing costs.

While the overall economy has remained resilient in the face of elevated interest rates, a cooldown in price pressures has showed signs of stalling — a trend that has led several Fed officials to indicate that there is no rush to cut rates down from more than two-decade highs.

2. Salesforce ahead

After a series of blockbuster