Merchants work on the ground of the New York Inventory Trade on June 18, 2024.Spencer Platt | Getty Photos Information | Getty ImagesU.S. S&P 500 futures fell Thursday morning after the S&P 500 rose for a second day.S&P 500 futures and Nasdaq 100 futures dipped 0.22% and 0.28%, respectively. Dow Jones Industrial Common futures fell 72 factors, or 0.18%.Micron shares slipped 5% in prolonged buying and selling after the chipmaker issued fourth-quarter income steerage in step with estimates, whilst the corporate beat third-quarter expectations. Levi Strauss dropped 12% after the denims maker’s newest quarterly income disillusioned traders.Financial institution shares had been in focus after the Federal Reserve stated Wednesday that the largest U.S. companies are in a position to face up to a extreme recession situation. Goldman Sachs shares slid 1.7%, whereas JPMorgan Chase shares rose barely.In the course of the common session Wednesday, the S&P 500 closed up 0.2%, whereas the Nasdaq Composite added 0.5%. In the meantime, the Dow Jones Industrial Common added 15.64 factors, or 0.04%.Shares are in a holding sample as Wall Avenue awaits the newest inflation information on Friday with the discharge of Could’s private consumption expenditures worth index. Buyers hope the report will present easing pricing pressures that would cement the probability the Fed will decrease rates of interest later this yr.Even with the sluggish buying and selling exercise, megacap tech names continued to outperform on Wednesday, bouncing again from a current slide. On Wednesday, Amazon shares reached an all-time excessive, breaching $2 trillion in market capitalization for the primary time.Nonetheless, traders are deliberating whether or not the factitious intelligence commerce can proceed to maintain markets within the again half of this yr, or if the rally might want to broaden out. Strategists surveyed by CNBC Professional anticipate the S&P 500 will possible finish the yr not even 1% larger from present ranges.”Proper now, we’re on this surroundings the place the market is kind of aligned with the Fed,” Brian Levitt, world market strategist at Invesco, instructed CNBC’s “Closing Bell” on Wednesday. “And what you will want possible is larger expectation coming into this market that the inflation story is absolutely behind us, that the Fed can decrease charges, and the tender touchdown occurs.”Company earnings proceed Thursday with releases from Walgreens Boots Alliance and Nike.On the financial entrance, merchants will even look ahead to the newest studying of weekly jobless claims, sturdy items orders and pending dwelling gross sales.