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Tech Wobbles: Inflation Data Looms
18 Dec
Summary
- US stock futures show a slight recovery after tech sell-off.
- Investors await crucial consumer inflation data for rate cut clues.
- Oracle's project setback impacts major tech stocks.
US stock futures are signaling a potential recovery, aiming to bounce back from a significant sell-off in the technology sector. Investors are closely monitoring upcoming consumer inflation data, which could provide critical insights into the Federal Reserve's future interest rate policies.
Wall Street experienced a downturn influenced by concerns surrounding the AI trade, exacerbated by Oracle's troubles with a large data center project, which impacted heavyweight tech stocks. Conversely, Micron Technology's recent earnings report projected robust AI demand, offering a glimmer of optimism for the sector.
Markets are now focused on the release of the November consumer price index report, though its reliability may be affected by recent federal disruptions. Simultaneously, remarks from Fed Governor Chris Waller have suggested a potential openness to interest rate reductions, shifting some focus from inflation pressures to labor market indicators.
