FX.co ★ US Futures Edge Up

On Thursday, US futures experienced a slight uptick, with the three main indexes each inching up by approximately 0.1%, continuing the positive momentum from the previous session. Investors are evaluating the prospects for AI-related stocks alongside recent corporate announcements, as the anticipation for a Federal Reserve interest rate cut next month grows in light of the latest Challenger report. The report revealed that US companies announced the highest number of October job cuts in 22 years, largely driven by AI implementation and cost-reducing strategies. This has increased the likelihood of a 25 basis point rate cut in December to roughly 68%. In premarket trading, Nvidia saw a 1.4% increase and Tesla rose by 0.4% ahead of its annual shareholder meeting. Other tech giants like Amazon (up 0.2%), Meta (up 0.8%), and Alphabet (up 0.8%) also gained, while Microsoft remained relatively stable and Apple fell by 0.3%. On the other hand, Qualcomm experienced a 1.1% decline after its intellectual property licensing revenue slightly missed projections.