Stock Market Today: Dow futures eye fresh record as Trump rally continues and focus turns to Fed
How are stock-index futures trading:
S&P 500 futures are up 0.2%.
Dow Jones Industrial Average futures are gaining 0.2%.
Nasdaq 100 futures are adding 0.2%.
On Wednesday, the Dow Jones Industrial Average rose 1508 points, or 3.57%, to 43,730, the S&P 500 increased 146 points, or 2.53%, to 5,929, and the Nasdaq Composite gained 544 points, or 2.95%, to 18,983.
Futures indicate Wall Street will continue its Trump rally, with the S&P 500, Nasdaq Composite and Dow Jones Industrial Average all in line to register fresh highs.
The technology sector is also being supported by well-received results from Qualcomm and AppLovin.
The Federal Reserve is expected to provide further succor to bulls when it cuts borrowing costs again in the afternoon.
Stephen Innes, managing partner at SPI Asset Management, said that the S&P 500’s jump of 2.5% on Wednesday, its biggest gain since November 2022, showed “investors were quick to react to the prospect of lower taxes, deregulation, and a president known for making waves across markets—whether it’s the stock market, the dollar, or trade policies.”
“While Trump’s proposed tariffs may bring inflation and deficit risks, the momentum behind the ‘Trump Trade’ is undeniable,” Innes added.