U.S. stock futures saw moderate gains on Wednesday, with market participants anticipating the release of minutes from the Federal Reserve’s most recent policy meeting.
As of 5:01 P.M. (GMT+7), Dow Jones Industrial Average futures added by 0.47%, or 233.80 points, to 49,767.00 points, while S&P 500 futures ticked up by 0.55%, or 37.60 points, to 6,880.80 points. Nasdaq 100 futures also increased by 0.58%, or 143.40 points, to 24,845.00 points.
These moves followed marginal gains recorded by major U.S. benchmarks at Tuesday’s close. Financial stocks outperformed broader market averages, bolstered by comments from Federal Reserve Governor Michael Barr, who indicated the need for prolonged restrictive policy. This stance has supported expectations for robust net interest margins, as reflected in JPMorgan Chase and Citigroup’s close market prices, which increased by 1.5% and 2.7%, respectively.
Within the technology sector, leading AI-focused companies saw selective buying, with Nvidia, Apple, and Broadcom closing the market higher by 1.2%, 3.2%, and 2.3%, respectively. Conversely, investors reduced exposures in high-growth software shares, contributing to declines in Salesforce (down 2.9%), Intuit (off 5.1%), and Oracle (lower by 3.8%).
As of today’s pre-market session at 5:00 P.M., JPMorgan Chase increased by 0.50%, Citigroup advanced by 0.88%, Nvidia edged up by 1.80%, Apple ticked up by 0.55%, Salesforce added by 0.80%, Intuit increased by 0.63%, while Oracle advanced by 1.10%. Broadcom, however, slipped by 0.14%.
Attention is now turning to the Fed’s January meeting minutes, set to be published on Wednesday. Market participants are expected to dissect the document for insights into policymakers’ views on inflation and the future path for rates. The highlight of the week from a macroeconomic standpoint remains Friday’s release of the Personal Consumption Expenditures (PCE) index.
