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Market Update: US Stock Futures Drop Slightly
US stock futures traded slightly lower on Thursday after slight gains in the prior session, as traders await the latest data on US weekly jobless claims and PCE inflation later in the day. Several Fed officials have commented in recent days on inflation, maintaining the central bank views it as transitory. However, they have also edged closer to starting the debate about tapering actions. On the bond market, US 10-year bond yields held above 3-week lows of 1.579% on Wednesday. Among stocks, Snowflake shares tumbled 5% in extended trading after the data-analytics software company reported widening losses, while Nvidia slipped 0.96% despite reporting sales growth of 84% in Q1 compared to last year. On Wednesday, the Dow closed almost flat at 34,323. The S&P 500 rose 7.86 points or 0.2% to 4,196 and the Nasdaq added 80.82 points or 0.6% to 13,738. [/s2If]
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