U.S. stock futures moved higher on Wednesday morning following a tech-driven rebound yesterday. Investors are also looking forward to the Federal Reserve’s interest rate decision on December 10, with the markets pricing in an 89% chance of a rate cut. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.16%, 0.22%, and 0.23%, respectively, at 7:42 a.m. EST on December 3.
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During Tuesday’s regular trading, the three major indexes closed higher, recovering from a sluggish start to December. Notably, a rebound in technology stocks such as Nvidia (NVDA) and Intel (INTC), as well as a lift in Bitcoin (BTC-USD) prices, boosted investor sentiment. The Dow Jones, the S&P 500, and the Nasdaq Composite rose 0.39%, 0.25%, and 0.59%, respectively.
Turning to trending stocks, shares of Marvell Technology (MRVL) surged 9.3% in Wednesday’s market trading after the semiconductor company reported better-than-expected Q3 results and announced the acquisition of Celestial AI. Also, American Eagle Outfitters (AEO) stock rallied 13% on optimism about holiday sales.
Investors also await earnings reports from Snowflake (SNOW), Salesforce (CRM), and C3.ai (AI).
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