FX.co ★ US Futures Steady Ahead of Fed Decision

U.S. stock futures remained relatively stable on Wednesday as investors awaited the Federal Reserve's policy announcement, with the market generally anticipating a quarter-point reduction in interest rates. Traders will be keenly observing remarks from Chair Jerome Powell for insights into the trajectory of future rate cuts. In the meantime, focus also shifted to earnings reports from major tech companies referred to as the "Magnificent Seven," with Alphabet, Meta, and Microsoft scheduled to release their results after Wednesday’s market close, followed by Apple and Amazon on Thursday. Furthermore, Nvidia's shares experienced a 1.7% increase in after-hours trading, building on its record-setting rally from Tuesday, after announcing collaborations with the U.S. government, Oracle, Uber, Eli Lilly, and others. In standard trading on Tuesday, the Dow Jones Industrial Average rose by 0.34%, the S&P 500 increased by 0.23%, and the Nasdaq Composite jumped 0.8%. All three indices reached new all-time highs, bolstered by the anticipated Fed rate cut, reduced U.S.-China trade tensions, and positive corporate news, especially within the tech industry.