FX.co ★ US Stocks Set to Extend Records

Futures for U.S. stocks indicated a positive opening on Wednesday, continuing the momentum from the record highs achieved by the S&P 500 and Nasdaq 100 the day before. This optimism is bolstered by the prospect of interest rate cuts. Futures tied to the three major indices rose approximately 0.3%. The modest increase in goods prices reported yesterday in the Consumer Price Index (CPI) helped alleviate fears that tariffs might ignite significant inflationary pressures within the U.S. economy. This development solidified expectations of a rate cut at the Federal Reserve's upcoming September meeting, as several members of the Federal Open Market Committee (FOMC) had previously suggested that tariff concerns had delayed the Fed from initiating a new cycle of policy easing. Market sentiment received an additional boost after President Donald Trump announced a 90-day extension on the pause of tariffs imposed on Chinese goods. Meanwhile, shares of Cava were expected to decline by 25% following disappointing second-quarter revenue growth and a downgraded full-year sales forecast. Similarly, CoreWeave experienced a 10% drop despite strong revenue increases, as its latest financial results presented a mixed outlook.