Stock Futures Steady Amidst Tech Spending Concerns and Economic Policy Jitters
US stock futures held their ground as markets adjusted to concerns over Big Tech's AI investments and President Trump's economic initiatives.
Tech Sector Movements
* Nasdaq futures (NQ=F) gained a marginal 0.03%.
* S&P 500 futures (ES=F) rose slightly by 0.09%.
* Dow Jones futures (YM=F) edged up 0.11%.
Company Performance Highlights
* Alphabet (GOOG) declined in after-hours trading following a dip in cloud revenue that triggered investor apprehension about AI spending.
* Nvidia (NVDA) surged by 6% on Tuesday and remained stable after the bell, benefiting from tech giants' continued investment in AI.
* Amazon (AMZN) is poised to release its quarterly earnings on Thursday, with investors closely monitoring the results after Google's cloud performance setback.
Economic Factors
* President Trump's tariffs have impacted US businesses across sectors.
* Ford (FORD) fell in after-hours trading despite surpassing earnings expectations due to subdued Q1 outlook, with tariffs cited as a headwind.
* Fast-food chain Chipotle acknowledged the effects of tariffs, indicating it would absorb additional costs.
Monetary Policy and Inflation Concerns
* Federal Reserve officials maintain their cautious stance on interest rate cuts amidst the evolving economic landscape.
* Fed officials aim to focus on reducing 10-year Treasury yields rather than immediate interest rate adjustments.
Gold Demand Surges
* Gold (GC=F) reached record highs for the fifth consecutive day.
* Demand for the asset is soaring as investors seek shelter amidst trade tensions.
* Futures trade close to the $2,905 high set earlier in the day.
Oil Price Recovery
* Oil prices rebounded after Saudi Arabia announced a significant increase in March prices.
* Brent crude futures (BZ=F) gained 14 cents to $74.75 per barrel.
* West Texas Intermediate (CL=F) rose 18 cents to $71.21 per barrel.