US futures slid as traders weighed Amazon's earnings beat against Starbucks and McDonald's misses. The Federal Reserve is set to provide an update later on the likely trajectory of interest rates. McDonald's also fell short of Wall Street's revenue, earnings, and same-store sales estimates for last quarter as consumers spent less at the fast-food chain. A painful combination of historic inflation and soaring interest rates over the past couple of years have squeezed household budgets and stoked concern of a recession. Stubborn inflation in recent months has dampened Wall Street's hopes that the Fed will cut rates in the months ahead.

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