US Futures Steady After Upbeat Session

US stock futures displayed minimal movement on Wednesday, following gains in all three major indices during the previous trading session. These advances were buoyed by anticipations of several interest rate reductions by the Federal Reserve, which have bolstered earnings forecasts. On Tuesday, the Dow Jones Industrial Average and the S&P 500 recorded increases of 0.99% and 0.62%, respectively, both closing at unprecedented highs. The Nasdaq Composite, characterized by its focus on technology, advanced by 0.65%. Among the 11 sectors within the S&P 500, nine experienced gains, with notable performances in materials, healthcare, and industrials sectors. Semiconductor companies captured investor attention anew, with Micron Technology, Texas Instruments, Analog Devices, and NXP posting increases ranging from 5.6% to 10%. Data storage companies also stood out among the top gainers of the S&P 500, highlighted by SanDisk's 27.6% surge, Western Digital's 16.8% rise, and Seagate's 14% increase. In a separate development, Nvidia's CEO, Jensen Huang, announced at the CES conference in Las Vegas that the company is experiencing robust demand in China for its H200 AI chips.