FX.co ★ US Futures Rise to Record

US equity futures climbed to record highs on Wednesday as energy prices declined and chipmakers extended their rally. The S&P 500, Nasdaq 100, and Dow each gained about 0.4%, with all three benchmarks trading at all-time highs.

Market sentiment improved as the absence of further escalation in the Middle East following recent US strikes allowed investors to refocus on signs from White House officials that a new agreement may be forthcoming. Such a deal would likely include the resumption of oil and gasoline exports from GCC countries, helping to alleviate energy prices and prolonging the recent support for US Treasuries.

Semiconductor stocks continued to advance, with Micron rising 8% in premarket trading after surging 19.3% in the previous session. The move was fueled by a wave of analyst upgrades, including UBS’s decision to triple its price target for the stock. Other companies with significant AI exposure also traded higher: Tesla gained 2.5%, while Nvidia and Alphabet posted more modest increases.

In the software sector, Salesforce traded slightly lower ahead of its earnings report due after the close.