Stock futures are ticking upward early Wednesday, reflecting continued optimism that the Federal Reserve may cut interest rates with markets now pricing in a high probability of a cut this month. That optimism follows a choppy start to the week, which saw bond yields spike and crypto slump, but those pressures have eased for now. Part of the rebound seems driven by strength in technology and AI-related equities and by broader global demand for U.S. equities amid a weaker dollar.
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With major macro events on the horizon many investors are treating the rally as tentative, watching carefully for signs that fundamentals support further upside. On the currency front, the dollar is slipping, its ninth straight daily decline, as rate-cut expectations build, which is helping support equities and other risk assets.
In pre-market trading, S&P 500 futures rose 0.29%, Nasdaq futures rose 0.22% and Dow futures rose 0.22%.
Check out this morning’s top movers from around Wall Street, compiled by The Fly.
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- Pharvaris (PHVS) up 4% after announcing the primary endpoint and all 11 secondary efficacy endpoints achieved statistical significance in RAPIDe-3 study
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