Investing.com-- U.S. stock index futures fell slightly on Wednesday evening with focus squarely on more key inflation data, as well as signals on monetary policy from an address by Federal Reserve Chair Jerome Powell.

Futures fell after a mixed session on Wall Street, where technology stocks gained on more positive earnings and artificial intelligence trends, while other sectors lagged. A rally on optimism over a U.S.-China trade deal also appeared to be petering out.

S&P 500 Futures fell 0.1% to 5,896.25 points, while Nasdaq 100 Futures fell 0.1% to 21,372.25 points by 20:00 ET (00:00 GMT). Dow Jones Futures fell 0.5% to 41,929.0 points.

PPI inflation, Powell speech awaited

Investors were skittish before producer price index data due on Thursday, which is expected to show an easing in factory gate prices in April.

The reading comes just days after a softer-than-expected consumer price index inflation print for April, which helped boost hopes that U.S. inflation was cooling enough for the Fed to cut interest rates further.

To that end, focus was on an address by Fed Chair Powell later on Thursday for more cues on monetary policy. Powell is expected to speak on a review of the Fed’s monetary policy framework- the blueprint for how it interprets its goals of maximum employment, price stability, and interest rates.

Powell’s speech comes just a week after the Fed Chair left interest rates unchanged and flagged no near-term changes due to high economic uncertainty.

Wall St buoyed by tech, other sectors cool

Wall Street indexes clocked strong gains on Wednesday, buoyed by persistent strength in technology shares, especially as investors grew more upbeat on the outlook for artificial intelligence.

A slew of positive earnings and commentary from major AI-linked chipmakers helped lift spirits. Server maker SuperMicro rallied over 15%, while cloud computing firm CoreWeave added 6.6% during Wednesday’s session, although the latter plummeted 7.9% after hours following a warning that increased capital spending will squeeze its margins.

Tech shares were the biggest advancers this week after the U.S. and China announced a major deescalation in their ongoing tariff exchange. Broader Wall Street sectors had also rallied on the news, although their gains were seen petering out by Wednesday.

The S&P 500 rose 0.1% to 5,892.58 points, while the NASDAQ Composite rose 0.7% to 19,146.81 points on Wednesday. The Dow Jones Industrial Average lagged, falling 0.2% to 42,051.06 points.

UnitedHealth sinks on DOJ probe report

Among major aftermarket movers, UnitedHealth Group (NYSE: UNH ) slid over 7% after the Wall Street Journal reported the company was being investigated by the Department of Justice over alleged criminal fraud involving Medicare.

The investigation marks a new headwind for UnitedHealth, which is already nursing a sharp selldown in its shares this year on concerns over government scrutiny, weakening financials, and signs of internal strife. The company abruptly replaced its CEO this week.

UnitedHealth shares are trading down nearly 39% so far in 2025.