Futures muted, Fed's Barkin on rates, Disney to report - what's moving markets

Investing.com -- U.S. stock futures were largely muted on Tuesday after hopes for Federal Reserve interest rate cuts later this year spurred on a jump in equities in the prior session. Richmond Fed President Thomas Barkin says that borrowing costs are currently "restrictive" enough to corral elevated inflation. WaltU.S.

Barkin also said he does not believe the economy is on track to overheat, a concern that has factored into the central bank's decision not to ratchet down rates earlier this year as initially expected. Should the economy slow significantly, he added, the Fed has the "firepower" at its disposal to supply the necessary support.

In April, shareholders largely backed Chief Executive Bob Iger and his plan to turnaround performance at the company, marking a defeat to a challenge from a cadre of large investors led by Trian Partners boss Nelson Peltz. Shares in Disney have now gained more than 28% in 2024, but remain far below highs touched three years ago.

Apple is developing an in-house chip intended to run artificial intelligence programs in data centers, the Wall Street Journal reported on Monday, as the tech giant seeks to gain an edge in the fast-growing industry.Apple began designing its own chips for its flagship iPhones and other devices over the past decade, as it sought to cull its reliance on other chip developers such as Intel (NASDAQ:

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