Tags: u.s. stock futures

Futures Tick up With Focus on Fed, Economic Data

Futures Tick up With Focus on Fed, Economic Data
(AP)

Wednesday, 04 December 2024 07:13 AM EST

U.S. stock index futures rose Wednesday, with those tied to the S&P 500 hitting all-time highs as investors focus on upcoming data and commentary from central bank officials including Chair Jerome Powell.

November private payrolls data is due at 8:15 a.m. ET, while the highly anticipated November monthly employment report is expected on Friday.

Traders currently see a near 74% chance of a 25-basis-point rate cut by the Fed this month, compared to a more than 66% chance seen a week earlier, according to CME's FedWatch Tool.

U.S. Federal Reserve officials said on Tuesday they continue to believe inflation is heading down to their 2% target. While most signaled support for further interest-rate cuts, none pushed strongly for or against a reduction at the Fed's meeting in two weeks.

Comments from Fed Chair Powell are due later in the day, while the 'Beige Book', a U.S. economic activity survey from the central bank, is scheduled for release at 2:00 p.m. ET.

November non-manufacturing activity surveys from S&P Global and the Institute for Supply Management are due shortly after markets open.

The S&P 500 and the Nasdaq posted record closing highs on Tuesday, as tech-related stocks continued their rise in a turbulent session.

U.S. stocks had a solid November after President-elect Donald Trump recaptured the White House in the Nov. 5 election and his Republican Party swept both houses of Congress.

The benchmark S&P 500 is up almost 27% so far this year, significantly outperforming bourses in Europe, Japan and mainland China.

At 05:03 a.m. ET, Dow E-minis were up 188 points, or 0.42%, S&P 500 E-minis were up 13.75 points, or 0.23%, hitting all-time highs, while Nasdaq 100 E-minis were up 114.25 points, or 0.54%.

Most megacap and growth stocks were broadly higher in premarket trading, with Tesla and Nvidia leading gains with a 0.9% rise each.

Salesforce jumped 12.8% after the enterprise cloud company beat Wall Street estimates for third-quarter revenue and raised the lower end of its annual revenue forecast.

Marvell Technology advanced 12.4% after the chipmaker forecast fourth-quarter revenue above analyst estimates, while digital identity verification firm Okta soared 17.2% after reporting third-quarter profit versus a year-ago loss.

© 2025 Thomson/Reuters. All rights reserved.


StreetTalk
U.S. stock index futures rose Wednesday, with those tied to the S&P 500 hitting all-time highs as investors focus on upcoming data and commentary from central bank officials including Chair Jerome Powell.
u.s. stock futures
361
2024-13-04
Wednesday, 04 December 2024 07:13 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Newsmax2 Live
 
On Now:4:00p ET • Ed Henry The Briefing Weekly
Coming Up:5:00p ET • Michael Savage: Savage Nation
Get Newsmax Text Alerts

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© 2025 Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved