Futures were steady ahead of key US data, while tech valuations, possible tariff refunds, oil tensions, and bitcoin’s bounce kept risk in check.
US stock futures were basically flat February 20 as investors waited for key economic reports that could either validate or derail bets on Federal Reserve rate cuts.
What does this mean?
The focus is on two numbers that tend to move everything at once: GDP and the Personal Consumption Expenditures (PCE) price index, the Fed’s preferred inflation gauge. Economists expect fourth-quarter growth to cool to about 3.0% annualized from 4.4%, while PCE will show whether inflation is easing fast enough for cuts. That matters because markets have been jumpy, especially in tech, where investors are debating whether heavy AI spending will turn into durable profits or jus..
