U.S. Stock Futures Rise Amid AI-Led Rally Ahead of Thanksgiving Holiday
U.S. stock futures advanced in early trading Wednesday, building on Tuesday's AI-driven rally as markets priced in expectations of another Federal Reserve rate cut in December. The Nasdaq 100 (NDX), S&P 500 (SPX), and Dow Jones Industrial Average (DJIA) futures gained 0.47%, 0.36%, and 0.25% respectively in pre-market activity.
Tech stocks led Tuesday's gains with Alphabet (GOOGL) hitting a 52-week high amid reports of Meta's multi-billion dollar commitment to Google's tensor processing units. The momentum offset Nvidia's 2.6% decline as investors weighed competitive pressures in the semiconductor space.
Trading activity remains focused on monetary policy signals ahead of Thursday's market closure for Thanksgiving. The abbreviated session Friday will test whether the AI narrative can sustain its momentum through year-end.