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AI-driven momentum is keeping bulls in high spirits after the Dow’s record close, though investors are a bit cautious ahead of the Fed minutes and fresh corporate catalysts.
Soaring interest rates put the brakes on the stock market rally and accelerated the sell-off in bond funds in a volatile third quarter.
On Thursday, Dow Jones futures are down, while Nasdaq 100 and S&P 500 futures are marginally up. This is after the DJIA and S&P 500 indices traded sideways, with a rally in AI and tech stocks driving the Nasdaq Composite and Nasdaq 100 indices on August 12. The focus has not shifted towards more inflationary data.