U.S. stock futures were firm on Wednesday after the S&P 500 hit another all-time high as investors ignored troubling inflation data to focus on new economic updates ahead.
Futures for the S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) remained just above the flatline following strong gains across the board on Tuesday. The contract for the tech-heavy Nasdaq 100 (^NDX) was also little changed.
Stocks rose despite stronger-than-expected core consumer inflation in February amid continued optimism that the Federal Reserve will start cutting interest rates in the coming months.
That alone could cause policymakers to remain cautious about easing borrowing costs when the Fed holds its monthly policy meeting next week. But with the U.S. economy outperforming Wall Street expectations, investors are keeping their hopes up until Thursday's release of wholesale inflation and retail sales data.
On the cryptocurrency front, Bitcoin (BTC-USD) is hovering around $73,290 and continues to rise, increasing its price by around 75% so far this year.
Among corporate stocks, Dollar Tree (DLTR) stock fell 8% in premarket trading after the stock slipped to a quarterly loss. The discount retailer said it plans to close about 1,000 stores, at a cost of more than $1 billion.
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