Stock Market Today: S&P 500, Dow, Nasdaq Futures Fall As Hot PCE Inflation Clouds Fed Rate Cut Hopes— Snowflake, Salesforce In Focus (UPDATED)

(Editor’s note: The future prices of benchmark tracking ETFs, and the headline were updated in the story.)
U.S. stock futures fell on Thursday after a higher close on Wednesday, as all indices ended marginally higher, but the small-cap index, the Russell 200, declined.
A slew of economic data was released on Thursday before the markets opened. First-quarter real GDP was revised down to an annualized growth rate of 1.6%, while the Fed’s preferred inflation gauge, the April PCE price index, rose 0.4% from the prior month and 3.8% year-over-year.
Meanwhile, initial jobless claims for the week ending May 23 edged higher to 215,000, and April durable-goods orders surged by a stronger-than-expected 7.9%, driven by a sharp rebound in transportation equipment.
A U.S. official, speaking anonymously