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U.S. stock futures rose on Wednesday, with growing confidence in a Federal Reserve rate cut and a sharp rebound in Bitcoin helping to steady risk sentiment.
By 05:30 ET (10:30 GMT),
- Dow Jones futures were up 115 points, or 0.2%
- S&P 500 futures gained 13 points, or 0.2%
- Nasdaq 100 futures added 40 points, or 0.2%
The major Wall Street indices had already advanced on Tuesday, recovering from the bout of risk aversion seen at the start of the week.
Fed rate cut expectations in focus
Attention has shifted firmly back to the Fed’s December 9–10 policy meeting, with markets largely convinced that a rate cut is coming.
CME’s FedWatch tool shows investors assigning around an 87% probability that the central bank will lower its benchmark rate by 25 basis points, as policymakers look to support a cooling labour market despite lingering signs of sticky inflation.
On the data front, traders are watching Wednesday’s ADP private-sector payrolls report for an early read on employment conditions ahead of official labour data.
Focus will then turn to Friday’s release of the long-delayed Personal Consumption Expenditures (PCE) Price Index — the Fed’s preferred inflation gauge — alongside personal income and spending figures. The PCE data are expected to play a key role in shaping expectations around the scale and pace of future cuts.
Crypto rebound lifts risk appetite
Risk assets also drew support from a recovery in digital currencies. Bitcoin rebounded back into the mid-$90,000 range after sharp losses earlier in the week, boosting crypto-exposed stocks and improving broader risk sentiment, particularly in tech.
The bounce in crypto and growth names helped underpin Tuesday’s gains on Wall Street and continued to lend a tailwind to futures on Wednesday.
Marvell confirms Celestial AI deal
In corporate news, Marvell Technology confirmed a $3.25 billion deal to acquire semiconductor startup Celestial AI, as it moves to strengthen its position in AI-focused compute infrastructure.
The acquisition will give Marvell access to Celestial’s photonics technology, which uses light instead of electrical signals to link AI and memory chips, improving bandwidth and efficiency in data-heavy workloads. The company expects meaningful revenue contributions from the deal to begin in the second half of its fiscal 2028.
Elsewhere, Pure Storage (NYSE: PSTG), CrowdStrike Holdings (NASDAQ: CRWD) and Okta (NASDAQ: OKTA) are set to be in focus after releasing quarterly results after Tuesday’s closing bell.
