U.S. equity futures advanced on Wednesday, positioning Wall Street to extend a run of strong gains as investors prepare for a shortened holiday week.
As of 5:31 P.M. (GMT+7), the Dow Jones Industrial Average futures climbed by 0.22%, or 105.10 points, to 47,217.20 points, while S&P 500 futures advanced by 0.28%, or 18.60 points, to 6,784.50 points. Meanwhile, the Nasdaq 100 rose by 0.38%, or 95.60 points, to 25,114.00 points. This upward momentum comes after a robust surge on Tuesday, with the Dow posting a 660-point rally that helped lead major indexes higher.
The market is seeking a fourth consecutive session of advances, buoyed recently by strength in technology shares. Alphabet closed at a new record high on Tuesday, propelled by reports that Meta Platforms may begin using Google’s TPU chips as early as 2027. Nvidia, in contrast, slid over 2.5%, as questions emerged around its leading position in the sector.
Attention remains focused on the Federal Reserve’s next policy steps. According to the CME FedWatch tool, traders are currently assigning an 85% likelihood to a rate cut of 25 basis points in December, a factor supporting recent investor optimism. Meanwhile, speculation is intensifying over Federal Reserve leadership, with five contenders reportedly on President Donald Trump’s shortlist to replace Chair Jerome Powell next year.
The ongoing rally has eased what had been mounting losses for the month. Despite the rebound, concerns about high valuations continue to weigh on sentiment, particularly among megacap technology shares. For November, the S&P 500 and Dow are each down just over 1%, while the Nasdaq Composite has lost nearly 3%.
With Thanksgiving shortening the trading week, much of the economic and earnings news landed on Tuesday, including better-than-expected results from major retail chains and economic releases delayed by earlier shutdowns. Deere & Company is the most notable company left slated to report this week, while the U.S. markets will close Thursday for the holiday and settle early at 1 P.M. ET on Friday.
