US Stock Futures Steady Ahead of PCE Inflation Data as Fed Rate Bets Shift

Dow Jones··US·Read original
3▲0 ▼0Impact / 5
Summary · why it matters

US stock futures held roughly flat on Wednesday as investors awaited the Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures index, due later in the day. Futures on the Dow Jones Industrial Average rose 0.4%, S&P 500 futures added 0.2%, and Nasdaq-100 contracts traded at 0.2%. Traders pared back bets that the Federal Reserve will hike interest rates at its October meeting to roughly a coin flip from over 70% odds a day earlier, according to CME Group, after New York Federal Reserve president John Williams said there was "no need for urgency" to raise rates in October. Economists expect the core PCE reading, excluding food and energy, to remain unchanged at 3.3% year over year. Micron earnings after the bell will offer investors insight into the memory and AI market, while Conagra Brands reports before the bell.

Impact on assets 5

Semiconductors▲ · 2 stocks
Micron Technology Inc
MU
± MixedCapitalrelevance

Micron earnings after the bell will offer insight into the memory and AI market, a pending company-specific financial event.

Consumer Staples▲ · 1 stocks
Conagra Brands, Inc.
CAG
± MixedCapitalrelevance

Conagra Brands reports earnings before the bell, a company-specific financial event whose outcome is not yet stated.

Carbon Removal (DAC)▲ · 1 stocks
CME Group Inc
CME
± MixedMonetaryrelevance

CME Group is cited only as the source of Fed rate-hike odds data, not for any company-specific development.

Cloud & Digital Infrastructure▲ · 1 stocks
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