U.S. stock futures slid on Thursday as investors weighed the Federal Reserve’s recent rate reduction, which had driven a late rally on Wall Street the previous day.
As of 4:35 P.M. (GMT+7), S&P 500 futures fell 0.66%, or 45.40 points, to 6,841.40 points, while Nasdaq 100 dropped by 0.86%, or 222.90 points, to 25,553.50 points. Meanwhile, Dow Jones Industrial Average futures, with less tech exposure, were down 0.3%, or 142.50 points, to 47,915.40 points.
Shares of software giant Oracle plunged more than 10% to $198.64 per share in pre-market session after its quarterly revenue missed expectations, raising renewed caution about demand for its cloud infrastructure services. The results prompted fresh scrutiny from investors regarding the company’s climbing debt load and reliance on OpenAI to meet ambitious sales targets.
On Wednesday, U.S. stocks closed higher after a divided Fed committee voted to cut interest rates for the third time this year, setting the federal funds target range at 3.5%–3.75%. Policymakers outlined a slower pace of future cuts, while Chair Jerome Powell indicated no rate hikes are expected in January and highlighted continued strength in the U.S. economy.
Powell noted the Fed is “well positioned to wait and see” how economic conditions develop, and highlighted that tariffs enacted under President Donald Trump have contributed to ongoing inflationary pressures.
The focus now shifts to Thursday’s jobless claims report, while delayed releases on wholesale inventories and trade sales could attract more investor attention than usual.
This week’s round of earnings season continues, with Broadcom, Costco, and Lululemon set to report results, capping a volatile period for both AI-related stocks and the retail sector.
