13.10.202623:58:52UTC+00US Futures Hold Steady Ahead of Inflation Report

US stock futures were little changed on Wednesday as investors awaited September’s consumer inflation report for guidance on the Federal Reserve’s next interest rate move. In corporate news, Bank of America shares fell more than 2% in after-hours trading after federal regulators levied over $1.2 billion in penalties, alleging the bank failed for years to report more than $5 billion in suspicious transactions.

In Tuesday’s regular session, the Dow Jones Industrial Average declined 0.35%, the S&P 500 slipped 0.02%, and the Nasdaq Composite edged down 0.15%. Memory-chip stocks extended their losses amid growing concerns over the sustainability of AI-related investments and intensifying competition from Chinese rivals, with Micron down 4.6%, SanDisk off 1.7%, Lam Research lower by 3.2%, and Applied Materials tumbling 7.2%.

Financial stocks also finished mostly lower following quarterly earnings reports, including Citigroup (-5.3%), Wells Fargo (-2.6%), Goldman Sachs (-0.1%), and JPMorgan (-0.3%).