U.S. stock index futures edge lower

S&P 500 Futures dropped nearly 0.1% to 6,825.50 points, Nasdaq 100 Futures declined 0.1% to 25,239.75 points, while Dow Jones Futures shed 0.2% to 48,239.0 points

U.S. stock index futures dropped slightly on Thursday evening, cooling after softer-than-expected November inflation data sparked a rebound in technology shares and a broader rally on the stock market.

But despite Thursday’s gains, stock indexes were still trading down for the week, pressured by an extended rout in tech and brewing uncertainty over the U.S. economy.

S&P 500 Futures dropped nearly 0.1% to 6,825.50 points by 23:46 GMT. Nasdaq 100 Futures declined 0.1% to 25,239.75 points, while Dow Jones Futures shed 0.2% to 48,239.0 points.

Stock indexes rose on Thursday after a softer-than-expected consumer price index inflation reading for November drove some bets that the country’s central bank will cut interest rates further in the coming year.

But analysts warned that the November reading was unlikely to factor into the central bank’s rate outlook, given that it was still affected by some lingering disruptions from a government shutdown in October.

Goldman Sachs analysts said Thursday’s reading was unlikely to move the needle for the Fed, stating that December’s data will be much more significant for policymakers in gauging whether inflation was cooling.

Still, stock indexes rose following the CPI print, with tech seeing some relief after concerns over stretched AI valuations battered the sector. A 10% rally in memory chip maker Micron Technology, after it posted blowout quarterly earnings, also aided stock market.

The S&P 500 added 0.8% to 6,774.77 points on Thursday. The NASDAQ Composite climbed 1.4% to 23,006.36 points, while the Dow Jones Industrial Average gained 0.1% to 47,951.85 points.

All three indexes rebounded from a three-week low, but were still trading down between 0.7% and 1% for the week, following a slump in technology shares.