Futures reversed higher and techs pared losses though Oracle dived on AI spending fears. GE Vernova, Palantir made bullish moves Wednesday in a Fed-led rally.

Futures on the Dow Jones are down over 220 points, those on the S&P 500 are down 65 points, while Nasdaq futures are down nearly 400 points.

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While Fed Chair Jerome Powell did outline a higher bar for future rate cuts, he also announced that the central bank will immediately begin buying short-dated government bonds to boost market liquidity levels. The Fed will initially buy about $40 billion of Treasury bills per month.

Contracts on the S&P 500 and Nasdaq 100 dropped 0.8% and 1.2%, respectively, while Dow Jones Industrial Average futures, which have fewer tech

Major stock indexes ended mixed Thursday, with the Dow Jones Industrial Average and S&P 500 closing at record highs but the Nasdaq pulling back as Oracle results dragged AI-tied shares.

Shares of Oxford Industries, Inc. (NYSE: OXM) fell sharply in pre-market trading after the company reported third-quarter financial results and issued fourth-quarter guidance below estimates. Also, the company cut its FY25 guidance below estimates.

U.S. stock futures were flat less than an hour before the opening bell Wednesday as investors awaited the Federal Reserve’s last interest-rate decision of the year. Dow Jones Industrial Average futures were little changed,

Stocks wobbled around Asia on Thursday after disappointing earnings at U.S. cloud computing giant Oracle sounded a warning for AI profitability, while bonds were firm and the dollar nursed losses after the Federal Reserve cut U.

A slump in Oracle’s shares aftermarket returned investors’ focus to the sustainability of the AI-led boom, dragging down markets in Asia and Europe.

Bears mauled AI stocks, but the Dow Jones and Russell 2000 hit new highs last week. Tesla and Eli Lilly are in buy zones.