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

US stock futures remained stable on Tuesday following a substantial rise in the previous session, fueled by gains in the technology sector. This surge was largely attributed to renewed optimism for a potential interest rate cut by the Federal Reserve. On Monday, regular trading saw the Dow increase by 0.44%, the S&P 500 rise by 1.55%, and the Nasdaq Composite climb by 2.69%. Notably, large-cap tech companies led this upswing, with Broadcom soaring 11.1% due to renewed momentum in AI infrastructure, and Alphabet rising 6.3% as developments related to Gemini 3 boosted its market valuation above Microsoft. Tesla also made significant headway, advancing 6.8% after Elon Musk highlighted progress on next-generation AI chips. Meanwhile, dovish comments from Federal Reserve officials have strengthened expectations for a rate cut in December, with market participants now pricing in an 81% probability of a 25 basis point reduction, a dramatic increase from 42.4% just a week earlier. Fed Governor Christopher Waller expressed support for a rate cut next month, aligning with similar remarks from San Francisco Fed President Mary Daly and New York Fed President John Williams.