U.S. stock futures slipped Wednesday night as Oracle’s (ORCL) results reignited worries about stretched valuations in top tech names. This came after the Federal Reserve cut interest rates by a quarter point, as expected. Futures on the Nasdaq 100 (NDX) and the S&P 500 (SPX) were down 0.48% and 0.26%, respectively, at 8:42 p.m. EST, December 10, while the Dow Jones Industrial Average (DJIA) futures were up 0.01%.
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Major U.S. stock indices finished higher on Wednesday following the Fed’s move to lower its benchmark rate to a range of 3.5%–3.75%. Overall, the Dow Jones, the S&P 500, and the Nasdaq Composite gained 1.1%, 0.7%, and 0.3%, respectively.
Looking ahead, the weekly initial jobless claims report and U.S. international trade data will be made public tomorrow. Also, several major companies are reporting earnings tomorrow, including Costco (COST), Lululemon (LULU), and Broadcom (AVGO).
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