FX.co ★ US Futures Point to Gains at the Open

U.S. stock futures showed a modest increase on Wednesday, with futures for all three major indices rising by nearly 0.2%. This follows a robust rally on Tuesday. The likelihood of a Federal Reserve rate cut in December has risen, with expectations surpassing 80%. This sentiment is fueled by weak economic indicators and dovish statements from Fed officials. Additionally, a Bloomberg report suggesting that Kevin Hassett, Director of the White House National Economic Council, is a leading candidate for the next Federal Reserve Chair—an appointment favored by investors due to its alignment with President Trump's preference for lower interest rates—further bolstered the market mood. In premarket activity, Alphabet shares climbed 1.9%, building on gains after a streak of three record-setting closes, spurred by revelations that Meta is considering the use of its chips. Other large-cap technology stocks saw gains as well, with Microsoft advancing 0.6%, Apple up 0.4%, Amazon rising 0.7%, Meta increasing 0.6%, and Tesla going up 0.8%. Conversely, Nvidia experienced a decline, slipping over 1% subsequent to a 2.6% drop on the previous day.