U.S. stock futures tick down as the tech rebound loses steam; investors look ahead to the Fed minutes.

U.S. stock index futures slipped modestly on Tuesday night as a fragile rebound in technology shares showed signs of strain, with investors remaining cautious ahead of a wave of economic data and Federal Reserve signals.

Futures pulled back following a mildly upbeat session on Wall Street, where tech stocks attempted to bounce from recent declines. The recovery, however, was uneven, as lingering concerns over AI-driven disruptions continued to cloud sentiment in the sector.

By 19:55 ET (00:55 GMT), S&P 500 futures were down 0.1% at 6,851.50, Nasdaq 100 futures fell 0.2% to 24,721.0, and Dow Jones futures slipped 0.1% to 49,553.0.

Economic data, Fed minutes in focus

Attention now turns to several key economic releases and the minutes from the Fed’s January meeting, due Wednesday afternoon. Investors are looking for greater clarity on the central bank’s interest rate outlook after policymakers kept rates steady last month and signaled ongoing caution over persistent inflation and softening labor market conditions.

January industrial production figures are scheduled for Wednesday, followed by December’s PCE price index on Friday — the Fed’s preferred inflation measure and a key input into its longer-term rate projections.

Uncertainty surrounding the Fed has weighed on markets in recent weeks, particularly after President Donald Trump’s nomination of Kevin Warsh as the next Fed Chair was interpreted as a less dovish shift in leadership.

Nvidia, Meta pare gains; AMD cuts losses

NVIDIA and Meta Platforms gave back some after-hours gains but still rose about 0.6% each after announcing a multi-year partnership to expand AI infrastructure, with Nvidia set to supply millions of chips to Meta.

Rival AMD, which had dropped as much as 4% following the announcement, reduced its losses to trade roughly 2% lower.

Technology stocks remain sensitive after weeks of declines fueled by concerns about AI-related disruption — especially within software — as well as skepticism over elevated AI spending and the sector’s long-term growth outlook.

Wall Street posts modest gains

Major indexes ended Tuesday slightly higher, supported by a patchy tech rebound and strength in financial stocks. The S&P 500 rose 0.1% to 6,843.22, the Nasdaq Composite added 0.1% to 22,578.38, and the Dow Jones Industrial Average gained 0.07% to 49,533.19.

While some dip-buying helped tech shares recover modestly, heavyweight names including Microsoft, Tesla, Alphabet, and Oracle extended last week’s declines.

Markets also drew limited support from reports of progress in U.S.-Iran nuclear discussions, easing some concerns about escalating geopolitical tensions in the Middle East.

Sources: Ambar Warrick