U.S. stock index futures edged lower on Wednesday evening as investors braced for fresh inflation data and a key speech from Federal Reserve Chair Jerome Powell. The dip followed a mixed day on Wall Street, with tech stocks rallying on artificial intelligence optimism while other sectors cooled.
By 8:00 p.m. ET, S&P 500 futures slipped 0.1% to 5,896.25, Nasdaq 100 futures dropped 0.1% to 21,372.25, and Dow Jones futures fell 0.5% to 41,929.0.
Markets are now focused on April’s Producer Price Index (PPI), due Thursday. Analysts expect a mild rise, signaling a possible cooldown in factory-level inflation. This follows Tuesday’s Consumer Price Index (CPI), which showed a slower-than-expected inflation pace and rekindled hopes for Fed rate cuts later this year.
Powell is scheduled to speak Thursday on the Fed’s policy framework—its approach to managing inflation, employment, and interest rates. His remarks will be closely watched for any signals on the timing or likelihood of future monetary easing.
Tech Gains Offset Broader Weakness
Wall Street indices closed mixed Wednesday, driven largely by strength in tech shares linked to artificial intelligence. Optimism in the AI space, fueled by robust earnings, continued to lift sentiment despite broader sector fatigue.
Key market highlights:
- SuperMicro surged over 15% on strong server demand.
- CoreWeave climbed 6.6% intraday but dropped 7.9% post-market after warning that rising capital expenses could hurt margins.
- The NASDAQ Composite rose 0.7% to 19,146.81.
- The S&P 500 edged up 0.1% to 5,892.58.
- The Dow Jones Industrial Average slipped 0.2% to 42,051.06.
Gains were also driven by renewed optimism over U.S.-China trade relations. A recent reduction in tariffs lifted investor confidence, especially in trade-sensitive industries. However, enthusiasm has started to wane as the broader economic outlook remains murky.
UnitedHealth Tanks on DOJ Probe
The biggest corporate headline came after hours, when UnitedHealth Group (NYSE: UNH) shares tumbled over 7% following reports of a criminal fraud investigation by the Department of Justice. The probe centers on the company’s Medicare billing practices and represents the latest challenge in a turbulent year.
Additional concerns:
- UnitedHealth has lost nearly 39% in 2025.
- It recently replaced its CEO amid internal conflict and investor pressure.
- DOJ scrutiny adds a legal overhang on top of mounting financial and regulatory risks.
As earnings season continues and inflation data emerges, markets are expected to remain volatile in the near term.
