Wall Street Awaits Economic Indicators Amid Mixed Market Signals

Wall Street is poised for a subdued start as investors eagerly await further economic indicators after the Federal Reserve's recent rate cut. Despite record highs in the previous session driven by mining stocks, weak consumer sentiment raises concerns over labor market health. Mixed market responses underscore economic uncertainties.

Wall Street was set for a subdued start on Wednesday, with investors awaiting further indicators on the state of the economy and potential interest rate reductions. This comes a week after the Federal Reserve initiated its policy relaxation cycle.

The benchmark S&P 500 and the Dow closed at record highs for the second straight time in the previous session, largely driven by mining stocks following China's announcement of a large stimulus package. However, a weak consumer sentiment report has fanned concerns about the labor market's health.

In premarket movements, Apple dipped nearly 1%, as data indicated a drop in iPhone sales in China. KB Home fell 6% after missing Q3 profit estimates. Additionally, U.S.-listed Chinese companies slipped after a surge on Tuesday, despite China's stimulus package, with Alibaba, Li Auto, and JD.com all seeing declines in their stock prices.

(With inputs from agencies.)