U.S. stock futures stalled on Wednesday as the risk of a Google breakup prompted a pause for thought awaiting further clues from the Federal Reserve on the chances of a “soft landing.”
Futures for the tech-heavy Dow Jones Industrial Average (YM=F), S&P 500 (ES=F) and Nasdaq 100 (NQ=F) all held below the flat line, paring pre-market losses. marketing.
Stocks have been rocked this week amid intense debate over the state of the economy now that the Federal Reserve has finally eased policy. His decision to cut by 50 basis points raised concerns that he could see risks that the market could not. This has investors wondering about a “non-landing,” where the economy continues to grow and inflation risks emerge once again.
Minutes from the Federal Reserve’s September meeting, due to be released later Wednesday, will be reviewed for clues, especially as to why one official disagreed on the size of the cut.
Read more: What the Federal Reserve’s rate cut means for bank accounts, CDs, loans and credit cards
Meanwhile, investors are absorbing the news that the Justice Department is considering asking a judge to force Google to sell off key businesses to remedy its monopoly position. Shares of owner Alphabet (GOOG) fell in premarket trading, after rising on a broader tech rally that fueled strong gains on Tuesday.
Elsewhere in technology, Taiwanese chipmaker TSMC’s (TSM) quarterly sales topped Wall Street estimates, in a sign of healthy demand for AI. TSMC shares rose slightly, while shares of its client Nvidia (NVDA) rose more than 1%, riding the gains.