FX.co ★ US Stocks Set to Build on Record Highs

U.S. stock futures showed a modest uptick on Wednesday as contracts for the S&P 500 and Nasdaq 100 increased by 0.2% and 0.3%, respectively. Meanwhile, Dow Jones futures rose by nearly 100 points. This upward movement follows a streak of record highs for all three major indexes, marking their third consecutive session closing at such levels on Tuesday. In premarket trading, Nvidia's shares surged roughly 3% after President Trump announced plans to discuss the company's Blackwell processors with China's Xi Jinping, positioning Nvidia to potentially become the first public company to reach a $5 trillion valuation. Investors are also anticipating crucial earnings reports from Microsoft (up 0.3%), Meta (up 0.2%), and Alphabet (up 0.6%), expected to be released after the market closes. Verizon's shares increased by 2% after confirming its full-year forecast, while Caterpillar experienced a significant rise of 4.7% due to stronger-than-expected third-quarter sales. Conversely, CVS saw a decline of over 3% despite surpassing earnings expectations. Additionally, the Federal Reserve is on track to announce a 25 basis points cut in interest rates later today, which is largely anticipated by the market.