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Futures fall as chip stocks drag, Fed rate decision awaited [Reuters]
Last micron technology, inc. earnings: 3/25 04:01 pm
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US:NASDAQ Investor Relations: investors.micron.com
shed 6.3% in premarket trading after its forecast for AI chip sales failed to impress investors, while lost 9.1% as the artificial intelligence server maker reported third-quarter revenue below estimates. Other chipmakers also traded in the red, with Nvidia and Micron Technology down more than 2% each. U.S. stocks ended lower on Tuesday as data showing a rise in labor costs and deteriorating consumer confidence dampened rate-cut expectations. Investors will now await a slew of economic data during the day to further gauge the state of inflation in the U.S. economy, before tuning in to the Fed's interest rate decision at the end of its two-day meeting. On the docket for the day are the ADP National employment numbers for April at 8:15 a.m. ET, the April S&P Global final manufacturing PMI data shortly after the opening bell, the ISM manufacturing PMI data and the JOLTS job openings figures, both at 10 a.m. ET. "FOMC meeting is likely to confirm that, from a global perspective
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