Investing.com-- U.S. stock futures moved little in late-Sunday deals after a record-high run, as an AI-fueled rally in the tech sector now appeared to be slowing, with pressure coming chiefly from persistent fears of higher-for-longer interest rates.
Markets were still digesting a string of signals from the Federal Reserve last week showing that the central bank was in no hurry to begin trimming interest rates in the near-term.
Hype over artificial intelligence- especially after consensus-beating results from market darling NVIDIA Corporation (NASDAQ:NVDA)- helped Wall Street initially look past said warnings.
But while U.S. stock benchmarks still managed to close the week at record highs, their pace of gains appeared to be slowing.
S&P 500 Futures were flat at 5,100.25 points, while Nasdaq 100 Futures steadied at 17,985.25 points. Dow Jones Futures fell slightly to 39,177.0 points.
Anticipation of more key inflation readings this week- specifically the PCE price index, which is the Fed’s preferred inflation gauge- also kept traders on edge.
U.S. stock markets also appeared vulnerable to some profit-taking after ending the prior week at record highs, particularly the tech sector.
The S&P 500 rose slightly to a record close of 5,088.80 points on Friday. The Dow Jones Industrial Average ended 0.2% higher at 39,131.53 points, while the NASDAQ Composite fell 0.3% to 15,996.82 points.
Investors were seen largely pricing out the prospect of May and June rate cuts by the Fed, amid increasing signs that inflation remained sticky.
Beyond the PCE data, focus is also on a second reading of fourth-quarter gross domestic product data, which is due on Wednesday. The while U.S. economic growth has remained resilient in
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