Apple Inc.AAPL
▼ NegativeMonetaryrelevance
Expectations of Fed rate hike and hot PCE inflation dampen sentiment for tech stocks.
Impact on stocks 1
Artificial Intelligence
Apple Inc.US stock futures fell as Wall Street processed a downbeat week for tech stocks. Futures tied to the Dow Jones Industrial Average edged down 0.2%, while S&P 500 futures slid 0.7% and Nasdaq 100 futures dropped 1.4%. The tech-heavy Nasdaq Composite and the S&P 500 each slipped for the fourth straight session on Thursday. Pressure on the tech trade stems from mounting expectations of a Federal Reserve rate hike this year alongside concerns over elevated AI valuations and spending, with a hot reading of the Fed's preferred inflation gauge, the Personal Consumption Expenditures index, further dampening sentiment. Oil prices have declined since the US and Iran agreed to a 60-day ceasefire, but uncertainty persists over protracted negotiations and reports of turmoil in the Strait of Hormuz.
Apple Inc.Expectations of Fed rate hike and hot PCE inflation dampen sentiment for tech stocks.