FX.co ★ US Futures Steady After Tech-Led Rally

US stock index futures were little changed on Wednesday after the major averages notched fresh record highs in the previous session, driven by a strong rally in technology shares. On Tuesday, the S&P 500 rose 0.58% and the Nasdaq Composite gained 0.45%, with both benchmarks closing at all-time highs, while the Dow advanced 0.49%.

Chipmakers were among the standout performers, led by AMD (up 2.8%), Marvell Technology (up 5.8%) and Broadcom (up 3.7%). Sentiment was also buoyed by a pause in the recent rise in bond yields, which eased pressure on the tech sector’s funding and valuation outlook.

At the same time, oil prices rebounded as persistent risks to energy supplies from the Middle East outweighed signs of improving regional output. Investors are now awaiting the release of minutes from the Federal Reserve’s latest policy meeting for further insight into the central bank’s monetary policy trajectory.