U.S. stock futures advanced Wednesday as investors repositioned away from major technology companies towards more defensive sectors, with market attention squarely focused on a critical vote in the House that could resolve the longest federal government shutdown on record.
As of 4:51 P.M. (GMT+7), the Dow Jones Industrial Average futures rose 0.17%, or 80 points, to 48,008.00 points, following the blue-chip index’s record close amid a mixed session. S&P 500 futures added 0.4%, or 27.70 points, to 6,874.30 points, while Nasdaq 100 futures climbed 0.69%, or 177.40 points, to 25,710.90 points, recovering some ground after a recent slide in major tech stocks.
Political developments in Washington remain in the spotlight as the Senate passed a spending package designed to reopen federal agencies. The legislation now moves to the House, where a vote could take place as early as Wednesday.
The Federal Reserve will also be in focus, with multiple officials set to speak. Investors are particularly attuned to comments from Stephen Miran, President Donald Trump’s latest appointee to the Fed, and Christopher Waller, who is rumored to be in the running for the central bank’s top position. Market participants are scrutinizing remarks for potential signals on whether the Fed will move ahead with an anticipated quarter-point rate cut next month.
After a strong rally on Monday boosted by hopes for an end to the budget impasse, Tuesday’s session saw divergence among major indices: The Dow soared over 550 points to a new peak, while the Nasdaq Composite slipped as investors took profits in artificial intelligence stocks. The S&P 500 notched a slight gain, extending its winning streak to a third day.
On the economic data front, a disappointing ADP employment report showed private sector payrolls contracted in October, intensifying worries over a cooling jobs market. The report carried additional significance given delayed government economic data resulting from the shutdown.
Corporate earnings season has slowed, with most companies having already reported results. However, investors are watching for upcoming releases from sector heavyweights including Cisco, Disney, and Applied Materials later in the week.
