Investing.com– U.S. stock index futures remained steady on Sunday evening, as investors treaded cautiously ahead of a Federal Reserve meeting and eagerly awaited Nvidia Corp’s annual developer conference.
Wall Street indexes have seen a slight dip from record highs in the past two weeks, with a focus on the technology sector and the impact of artificial intelligence. The recent hotter-than-expected inflation readings have also added to the uncertainty, with concerns over potential interest rate hikes.
The S&P 500 futures rose slightly to 5,185.50 points, while the Nasdaq futures increased to 18,071.0 points. However, the Dow Jones futures fell slightly to 39,126.0 points.
All eyes are now on the Federal Reserve meeting scheduled for Wednesday, where investors will be looking for any signals on the central bank’s plans for interest rates. The recent inflation data has raised fears of a more hawkish stance from the Fed.
In the midst of this uncertainty, Nvidia’s GTC conference in San Jose, California is eagerly awaited. The company is expected to unveil its new flagship chips designed for AI development, with CEO Jensen Huang set to deliver a keynote address on Monday.
Nvidia has been a key player in the AI market rally, with its valuation soaring in recent years. The GTC conference could potentially reignite the rally for Nvidia and the broader technology sector.
As investors brace for a potentially volatile week, the combination of the Fed meeting and Nvidia’s conference will likely set the tone for the market’s direction in the coming days.
