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Futures off: Dow 0.01%, S&P 0.02%, Nasdaq 0.02%
March 19 (Reuters) - U.S. stock index futures were
little changed on Tuesday as investors remained cautious ahead
of the start of the Federal Reserve's meeting.
Dow e-minis were down 5 points, or 0.01%, at 05:02
a.m. ET. S&P 500 e-minis were down 1.25 points, or 0.02%
and Nasdaq 100 e-minis were down 4.5 points, or 0.02%.
Wall Street closed higher on Monday, with the Nasdaq
bouncing back from two small weekly losses, as growth stocks
such as Alphabet and Tesla boosted the
tech-heavy index.
Most megacap growth stocks edged lower in premarket trading.
Investor darling Nvidia ( NVDA ) struggled for direction
after the chipmaker unveiled the Blackwell B200, an AI chip it
says is up to 30 times faster than its previous chip. Some
investors suggested the news was priced into the high-flying
stock.
Fellow chipmaker AMD dipped 1.7%, while Super Micro
Computer ( SMCI ), which makes AI-optimized servers with
Nvidia's ( NVDA ) chips, fell 1.6%.
All eyes are on U.S. central bankers who are expected to
hold rates steady at the end of their two-day meeting on
Wednesday.
But, investors are concerned that their new economic
projections may be a wild card, potentially signaling fewer
interest rate cuts and a later start to the policy easing.
Robust inflation data has pushed traders to pull back bets
of the first rate cut coming in June to 55.2% from 71% at the
start of last week, according to the CME Fedwatch Tool.
"With price rises still steamier than expected, signs of a
more watchful, wary Fed are likely to emerge from this meeting,"
said Susannah Streeter, head of money and markets, Hargreaves
Lansdown.
"However, the wave of exuberance is continuing among
investors still charged with enthusiasm about the seemingly
infinite possibilities that artificial intelligence will bring
to the corporate world."
Among other movers, crypto-exchange operator Coinbase Global ( COIN )
and miners Riot Blockchain and Marathon
Digital Holdings ( MARA ) shed between 4.3% and 6.5%, tracking
the sharp slide in bitcoin.
Spire Global ( SPIR ) rose 18.5% after the company announced
a collaboration with Nvidia ( NVDA ) for AI-driven weather prediction.