Investing.com-- U.S. stock index futures steadied in evening deals on Tuesday after an artificial intelligence-fueled rally put Wall Street at new highs, with focus turning to the Federal Reserve and upcoming inflation data.) announced a partnership with ChatGPT maker OpenAI to roll out AI features.
Sticky inflation diminishes the chances of rate cuts by the Fed, while the prospect of high for longer U.S. rates presents a constrained outlook for stock markets.finished at record highs on Tuesday, driven chiefly by technology stocks amid persistent hype over AI. Apple Inc rallied over 7% to a record high after announcing its new AI features, while Microsoft and Alphabet added about 1% each.
The S&P 500 rose 0.3% to end at 5,375.32 points on Tuesday, while the Nasdaq Composite rose 0.9% to 17,343.84 points. But the more economically sensitiveBut Oracle surged nearly 9% after the bell on its new AI partnerships, which largely overshadowed disappointing quarterly earnings from the company.
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