Wall Street's Rollercoaster Ride: What's Next After Record Highs?

Investing.com—U.S. stock index futures climbed during Tuesday's evening trading, signaling a potential rebound on Wall Street after three consecutive days of losses. 

This decline was driven by uncertainty surrounding upcoming inflation data and Federal Reserve announcements.

However, these gains were somewhat subdued, as investors are expected to remain cautious until the release of crucial inflation figures later in the week, along with speeches from key Fed officials. 

Wall Street has been in a holding pattern after reaching record highs last week, as traders await further clarity on inflation and potential interest rate adjustments.

The technology sector, which experienced an artificial intelligence-driven rally, saw a minor pullback on Tuesday. 

NVIDIA Corporation (NASDAQ:NVDA), a market favorite, dropped 2.6% from its recent highs but stabilized in aftermarket trading.

Attention is now focused on the release of the PCE price index data, the Fed's preferred inflation gauge, scheduled for Friday when markets will be closed for the Good Friday holiday. 

Additionally, Chair Jerome Powell and committee member Mary Daly are scheduled to speak separately on Friday, providing more insights into potential interest rate cuts, following the central bank's indication last week of a planned 75 basis points cut in 2024, despite inflation concerns.

Krispy Kreme Inc (NASDAQ:DNUT) saw a 3.8% increase, extending a nearly 40% spike during the session after announcing a deal with McDonald’s Corporation (NYSE:MCD) to sell its doughnuts through the fast-food chain.

Shockwave Medical Inc (NASDAQ:SWAV) also rose 1.6%, building on its 10% gain on reports of potential acquisition talks with Johnson & Johnson (NYSE:JNJ).