US futures fall further amid rate jitters; PCE test approaches
Investing.com-- U.S. stock index futures fell in evening deals on Thursday, extending losses as fears of high interest rates and slowing growth sparked a two-day rout on Wall Street, with focus now turning to key PCE data for more cues on inflation.
This came amid increasing doubts over any interest rate cuts by the Federal Reserve, especially as policymakers warned that sticky inflation will keep the central bank from loosening policy this year.The reading is the Federal Reserve’s preferred inflation gauge, and is likely to factor into the central bank’s outlook on interest rates.
Pressure also came from month-end selling, while the tail end of the first quarter earnings season bought a slew of disappointments.data released on Thursday showed the U.S. economy grew less than initially expected in the first quarter, ramping up concerns over a stagflationary scenario- where growth remains slow, but inflation still remains high.) slumped nearly 18% after its first quarter earnings disappointed, as demand from the AI industry factored only marginally into overall sales.
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