Wall Street Holds Steady Amid Ongoing Rate Cut Speculations

Wall Street futures experienced a slight decline on Friday following record highs earlier in the week. Investors are closely watching economic signals, particularly from the Federal Reserve, as expectations mount for interest rate reductions.

Buoyed by strong performances from Tesla and Micron Technology, as well as optimistic predictions from companies like Adobe and Oracle, the U.S. stock market displayed resilience despite uncertainties. The Nasdaq and S&P 500 indexes have recorded gains for the past two weeks, as investors show confidence in the technology sector's growth prospects, notably in areas tied to artificial intelligence.

As inflation data continues to influence market expectations, the upcoming consumer sentiment survey from the University of Michigan will provide further insights into the economic outlook. Many analysts, including Annex Wealth Management's Chief Economist Brian Jacobsen, assert that the Fed is likely to implement a series of rate cuts, with the first expected as early as next week.

(With inputs from agencies.)