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- U.S. stock index futures slipped on Wednesday, as megacap stocks were pressured by rising Treasury yields on concerns around the timing of the Federal Reserve's interest rate cuts.
The tech-heavy Nasdaq on Tuesday closed above the 17,000 mark for the first time, driven by gains in Nvidia and fellow chip stocks, while the benchmark S&P 500 index ended flat with market participants doubting the possibility of an imminent start to Fed's monetary policy easing cycle. Markets will also closely monitor comments from this year's voting policymakers, including New York President John Williams and Raphael Bostic through the day.
On the quarterly earnings front, American Airlines cut its second-quarter profit forecast on weaker pricing power, sending its shares down 7.8%. Fellow carriers such as Southwest and Delta were also down over 1.7% each.
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