FX.co ★ US Futures Steady After 3-Day Rally

U.S. stock futures showed little movement on Wednesday following three consecutive days of gains in the major indexes, driven by renewed optimism in artificial intelligence and speculations of a forthcoming interest rate reduction by the Federal Reserve. On Tuesday, the Dow advanced by 1.43%, the S&P 500 by 0.91%, and the Nasdaq Composite by 0.67%. Alphabet's shares increased by 1.6%, reaching a new all-time high amid reports that Meta might be contemplating a multibillion-dollar acquisition of Google's AI chips. Conversely, Nvidia's shares fell by 2.6% and have declined roughly 15% so far this month, indicating its weakest monthly performance since September 2022. Investors are evaluating mixed U.S. economic data: retail sales did not meet expectations, while the ADP report indicated an average weekly loss of 13,500 private payroll jobs over the four weeks leading to November 8. However, producer prices strengthened in September. The market continues to anticipate approximately an 85% probability of a 25-basis-point reduction by the Federal Reserve next month.