© Reuters.
Investing.com– US stock futures fell in evening deals on Thursday after Wall Street notched strong gains during the session, as some signs of cooling inflation drummed up optimism over falling interest rates in 2024.
data- the Federal Reserve’s preferred inflation gauge- eased slightly in January, as expected. The print spurred some bets that the Fed will begin cutting rates by June- which in turn sparked a rally on Wall Street.
But given that inflation remained well above the Fed’s 2% annual target, doubts remained over the timing of the central bank’s potential cuts. A slew of Fed officials reiterated their warnings over inflation remaining sticky, while the only showed a mild increase in bets on a June rate cut.
fell 0.2% to 5,095.00 points, while fell 0.2% to 18,049.50 points by 18:42 ET (23:42 GMT). fell 0.1% to 38,991.0 points.
Wall St clocks Feb gains as tech stocks rally
Wall Street indexes rose on Thursday, with the leading gains on month-end buying into heavyweight tech stocks, which saw some consolidation this week. Market darling NVIDIA Corporation (NASDAQ:) rose 1.9% during the session.
Gains in tech were the biggest driver of a Wall Street rally over the past four months, amid growing optimism that demand for artificial intelligence will boost the sector.
The rose 0.5% to a record closing high of 5,096.27 points on Thursday, while the surged 0.9% to a record closing high of 16,091.92 points. The lagged, rising only 0.1% to 38,996.39 points.
Gains in the Dow were held back by losses in Walmart Inc (NYSE:) and Boeing Co (NYSE:), as the former grappled with weak earnings from other retailers, while reports said Boeing was being investigated by the DOJ.
All three U.S. benchmarks rose between 1.9% and 6.5% through February- their fourth straight month of gains.
Dell leads after-hours gains, Fisker tumbles on going concern doubts
Among stocks moving after the close, tech infrastructure firm Dell Technologies Inc (NYSE:) surged nearly 18% on stronger-than-expected earnings and guidance.
NetApp Inc (NASDAQ:) soared 15% on a strong outlook for 2024.
On the other hand, electric vehicle maker Fisker Inc (NYSE:) plummeted 35% after it warned of a substantial doubt over its ability to stay afloat. The firm said it will cut its workforce by 15% and was in talks with a large automaker over a potential investment.
