Stock Market Rebounds Ahead of Inflation Data Release
US stock futures rebounded early Thursday following a sell-off driven by Federal Reserve policy concerns, with Asian markets also showing signs of recovery. The Dow Jones Industrial Average and S&P 500 futures rose slightly while Nasdaq-100 contracts jumped after the index entered correction territory due to declines in chip stocks. Meta's stock fell over 9% premarket following a disappointing earnings report that raised concerns about its AI investment returns, contrasting with Microsoft’s nearly 9% rise as it reported record revenue from Azure cloud services. Investors are also watching Amazon and Apple for upcoming reports on capital expenditures and margins amid rising chip costs. The bond market continued to react strongly against the Fed's rate decision, pushing long-term Treasury yields near multi-decade highs. Meanwhile, geopolitical tensions over recent US strikes in Iran raised inflation concerns ahead of Thursday’s key Personal Consumption Expenditures (PCE) data release.
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Topics: federal reserve inflation data Magnificent Seven earnings PCE index stock market