U.S. stock index futures rose sharply on Wednesday evening, buoyed by strong quarterly results from Microsoft and Meta Platforms that boosted investor confidence in AI-driven growth.
The gains followed a subdued regular session on Wall Street as the Federal Reserve held interest rates steady, as widely expected. However, cautious remarks from officials dialed back hopes for a rate cut in September.
The upbeat tech earnings after market hours helped lift sentiment broadly, with futures tied to the Nasdaq 100 leading gains.
S&P 500 Futures rose 0.7% to 6,441.25 points, while Nasdaq 100 Futures jumped 1.1% to 23,719.75 points by 20:17 ET (00:17 GMT). Dow Jones Futures traded 0.2% higher at 44,690.0 points.
Fed’s hawkish pause reduces future easing bets In the regular trading session on Wednesday, the S&P 500 inched 0.1% lower, while the NASDAQ Composite closed 0.2% higher. The Dow Jones Industrial Average fell 0.4%.
The Federal Reserve kept interest rates unchanged on Wednesday, but two Fed governors broke ranks, voting against the decision, marking the first double dissent since 1993.
The Federal Open Market Committee (FOMC) left its benchmark rate unchanged in a range of 4.25% to 4.5%. There was dissent from two Trump-appointed Fed governors, Michelle Bowman and Christopher Waller, both of whom backed a 25 basis-point rate cut at this meeting.
This continued pause on cuts has drawn the ire of President Donald Trump, who has called on the Fed to quickly ratchet down rates to help boost growth.
