Wall Street is expected to rise slightly, while'meme' stocks continue to rise

Investors awaited fresh clues from inflation data this week and an approaching Federal Reserve meeting, but stock index futures were barely changed on Wednesday due to a lack of apparent triggers.


Wall Street is expected to rise slightly, while'meme' stocks continue to rise


Small-time retail investors continued to purchase into so-called "meme stocks," with Clover Health, a new social media darling, rising 17 percent in premarket trade after leaping 85 percent to a new high on Tuesday.

GameStop (NYSE:GME), the retailer most closely identified with this year's retail surge, climbed 2.4 percent ahead of its quarterly results, which are set to be released after the bell.


Due to a lack of indications, Wall Street indices have moved little this week, with most investors staying on the sidelines ahead of critical inflation data on Thursday.

The Fed's policy tapering intentions are also expected to be discussed during its meeting next week. Despite recent increases in prices, the bank is projected to remain dovish due to a slow labor market.

The S&P 500 E-minis were up 1.75 points, or 0.04 percent, at 06:15 a.m. ET, while the Dow E-minis were down 20 points, or 0.06 percent, and the Nasdaq 100 E-minis were up 20 points, or 0.14 percent.

Wall Street had soared to new highs thanks to a solid earnings season through May, with analysts claiming that markets had paused in recent weeks after the gains.

Bond yields fell to one-month lows, putting pressure on big bank stocks. [United States]

A wide package of laws aimed at bolstering the United States' ability to compete with Chinese technology received no reaction from Chinese stocks listed on the New York Stock Exchange.

China reacted angrily to the move.

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