U.S. stock futures remained unchanged on Wednesday following a mixed outcome in the previous trading day. On Tuesday, the Dow Jones Industrial Average rose by 0.91%, driven by significant gains in healthcare stocks, including UnitedHealth, which increased by 4.5%, and Amgen, which rose by 4.1%. In contrast, the S&P 500 experienced a slight decline of 0.11%, and the Nasdaq Composite decreased by 0.82%, with technology shares suffering a widespread downturn. Notable declines included Nvidia, which dropped by 3%, Tesla, which fell by 5.3%, and Palantir, which decreased by 4.1%.
In terms of policy developments, the Senate narrowly passed President Trump's tax-and-spending bill, sending it back to the House of Representatives for final approval. Traders were also attentive to trade updates as President Trump's 90-day relief on extensive reciprocal tariffs is set to expire soon. In another development, Federal Reserve Chair Jerome Powell expressed caution regarding potential interest rate cuts. He highlighted the risks of inflation driven by tariffs and stressed the importance of acquiring additional economic data before proceeding with any monetary policy adjustments.
