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U.S. stock futures opened higher on Wednesday as investors monitored developments in technology companies and upcoming economic reports. Nasdaq 100 futures (NQ=F) rose about 0.3%, while S&P 500 futures (ES=F) gained 0.2%. Dow Jones Industrial Average futures (YM=F) increased roughly 0.1%, reflecting its lower weighting in tech stocks.
Alibaba (BABA) surged over 9% in premarket trading after announcing that it will increase its artificial intelligence investment beyond the previously planned $50 billion. CEO Daniel Zhang highlighted that global AI spending is expected to reach $4 trillion, emphasizing the company’s efforts to maintain a competitive position in the rapidly expanding AI sector.
Micron Technology (MU) reported quarterly earnings above analysts’ expectations, supporting technology-focused futures. The results indicate ongoing demand for semiconductors, which are essential for AI applications and data-processing infrastructure.
Market movements were tempered as investors evaluated U.S. monetary policy. Federal Reserve officials have offered differing views on potential rate cuts amid early signs of a slowing labor market. Fed Chair Jerome Powell said Tuesday that the central bank will proceed cautiously regarding further rate reductions and described stock valuations as high.
Traders are now focused on the Personal Consumption Expenditures (PCE) inflation index, the Fed’s preferred inflation measure, which is scheduled for release on Friday. The report is expected to provide insight into whether inflation trends support market expectations for two additional rate cuts later this year.
Earlier in the day, investors are also watching reports on weekly mortgage applications and August home sales, which will provide additional information on housing market activity and broader economic conditions.
Follow the live updates throughout the day on ishookfinance.com to track how markets respond to these developments and additional company announcements.
Also Read: Tesla Stock Hits $440 in 2025 High After Musk’s $1B Buy & Analyst Upgrade
Author iShook Opinion
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