Stock Market Update: Dow, S&P 500, and Nasdaq Futures Fluctuate as Investors Anticipate Inflation Data Amid Rate Cut Hopes

Market Performance: US stock futures showed slight declines as Wall Street anticipated new inflation data after a record-breaking day for the markets, with futures for major indices slipping 0.1%.

Economic Indicators: The S&P 500 and Dow Jones Industrial Average reached new highs, driven by investor optimism regarding a resilient economy despite political tensions surrounding Federal Reserve governor Lisa Cook.

Upcoming Data Release: Investors are awaiting the July reading of the Personal Consumption Expenditures (PCE) index, which is crucial for assessing potential interest rate cuts by the Federal Reserve.

Rate Cut Speculations: Following comments from Fed Chair Jerome Powell, there is increasing speculation about a possible rate cut in September, amid concerns over a weakening labor market and persistent inflation pressures.