US Stock Futures Rise Amidst Tech Spending Concerns and Trump's Tariffs
US stock futures are edging higher as markets respond to apprehensions surrounding the AI spending of Big Tech and President Trump's economic agenda.
Tech Sector
* Nasdaq (NQ=F) futures rise 0.3%, signaling a potential 0.3% gain for the tech-heavy index.
* Alphabet (GOOG, GOOGL) remains flat in after-hours trading despite a drop in its stock on Tuesday due to a decline in cloud revenue.
* Nvidia benefits from Big Tech's AI investment plans, with shares climbing 6% on Tuesday.
Impact of Trump's Tariffs
* Ford (FORD) faces challenges in after-hours trading despite beating earnings expectations, citing tariffs as a significant headwind.
* Chipotle Mexican Grill acknowledges the impact of tariffs, announcing it will absorb extra costs by reducing its bottom line by 10%.
Federal Reserve
* Fed watchers express concerns over tariff-induced inflation.
* Federal Reserve officials maintain a "wait and see" approach to interest rate cuts.
* Treasury Secretary Scott Bessant emphasizes a focus on lowering 10-year Treasury yields.
Commodities
* Gold (GC=F) reaches record highs for the fifth consecutive day, driven by demand for stability amidst the escalating trade war.
* Futures trade at $2885 per ounce, approaching the high of $2905 set earlier.
Oil Prices
* Oil prices rebound after Saudi Arabia's announcement of increased March oil prices.
* Brent crude futures (BZ=F) gain 14 cents to $74.75 a barrel.
* West Texas Intermediate (CL=F) crude rises 18 cents to $71.21 a barrel.