DJIA futures down 134 points (Il Sole 24 Ore Radiocor) - New York, 13 Jun - US futures were mixed as investors took stock of the Federal Reserve's message on interest rates and geared up for more inflation news and a Tesla shareholder meeting.

Wall Street closed mainly higher yesterday after cooler-than-expected consumer price data and reassurance from the Fed that a rate cut this year is still on the cards. The S&P 500 rose 0.9% to end above 5,400 for the first time ever while the Nasdaq surged 1.5% to rack up another record high.

The Dow fell 0.1%.

Investors cheered news of the Fed's recognition that 'modest further progress' had been made in taming inflation even though, as expected, interest rates were kept on hold.

In its 'dot plot' - a chart updated on a quarterly basis giving each Fed member's prediction on the trajectory of the federal funds rate - the central bank signalled there would be just one rate cut this year compared to the three it forecast in March. But the vote was not clear cut with 7 officials signalling two cuts while 8 saw one and 4 no cuts at all.

Stubborn inflation has prompted the Fed to put back the timetable for rate cuts and prompted traders to retrench.

The focus today will be on wholesale inflation for May after yesterday's consumer price index came in below expectations.

Producer prices are expected to have risen by 2.5% in May from the same month a year ago, compared to the 2.2% rise seen last month.

On the stocks front shares in Tesla were up more than 5% in premarket trade after its CEO Elon Musk said preliminary voting results showed shareholders supported his huge pay package. The shareholder meeting is today.

Broadcom shares meanwhile jumped 14% after the chip and software maker raised its revenue forecasts and announced a 10-for-1 forward stock split.

Futures on the Dow Jones were down 134.00 points, or 0.35%, S&P 500 futures were up 3.25 points, or 0.06%, while futures on the Nasdaq were 110.25 points, or 0.57%, higher.

AAA-Sje

(RADIOCOR) 13-06-24 13:48:43 (0345) 5 NNNN