The Nasdaq and S&P 500 futures had a positive start on Wednesday, boosted by optimistic forecasts from Tesla Inc. (TSLA) and Texas Instruments Inc. (TXN). While Dow futures showed slight declines, attention is on upcoming economic indicators such as early quarterly GDP growth and personal consumption expenditures, which will impact Federal Reserve decisions in the coming month.
Investors reacted positively to Tuesday’s weaker private sector activity, viewing it as a sign that the Federal Reserve may maintain a dovish stance. Key economic reports expected this week include durable goods orders and the GDP update from the Atlanta Fed. The bond market’s response reflects ongoing concerns about the adequacy of the Fed’s rate adjustments.
Tesla’s stock jumped over 10% in pre-market trading following impressive quarterly results. Other notable movements were seen in Texas Instruments and Steel Dynamics, among others. The earnings season continues to be a significant factor in individual stock performance and overall market sentiment.
Crude oil futures saw a slight decrease, while gold managed to stay above $2,300. Bitcoin remains stable around $66,000 despite mixed global equity performances. Asian markets closed positively, influenced by gains on Wall Street and optimism in the tech sector.