<\/p>\n\n\n\n
U.S. stock index futures climbed on Wednesday, continuing a recovery in the tech sector, led by a surge in Nvidia shares and an optimistic outlook from delivery giant FedEx.<\/p>\n\n\n\n
Dow Jones Futures held steady, while S&P 500 Futures gained 0.2% and Nasdaq 100 Futures jumped 0.3%, indicating a positive start for the trading day. This comes after a mixed session on Tuesday, where the S&P 500 rose 0.4% and the Nasdaq Composite surged 1.3%, ending a three-day decline.<\/p>\n\n\n\n
Nvidia Rebound Spurs Tech Optimism<\/strong><\/p>\n\n\n\n Nvidia’s nearly 7% surge on Tuesday, recovering from recent losses due to profit-taking and doubts over AI demand, played a crucial role in boosting market sentiment. Gains in Nvidia spilled over to other chipmakers and helped lift broader Wall Street indices despite weakness in other sectors.<\/p>\n\n\n\n However, economically sensitive sectors remained under pressure as investors awaited the PCE price index data, the Federal Reserve’s preferred inflation gauge, later this week. This data is expected to provide insights into the central bank’s plans for adjusting interest rates.<\/p>\n\n\n\n FedEx Upbeat Outlook Adds to Positive Sentiment<\/strong><\/p>\n\n\n\n Adding to the positive tone was an optimistic outlook from FedEx, which saw its shares soar 13% in premarket trading. The delivery and logistics giant, often viewed as a barometer of the global economy, revised its full-year revenue growth forecast upwards and announced a $2.5 billion share buyback plan.<\/p>\n\n\n\n Other Notable Developments<\/strong><\/p>\n\n\n\n Rivian Automotive shares jumped nearly 40% after announcing a joint venture with Volkswagen, while quarterly results from General Mills, Paychex, and Micron Technology were also due for release.<\/p>\n\n\n\n Oil Prices Rise Despite U.S. Stockpile Increase<\/strong><\/p>\n\n\n\n Crude prices rose on Wednesday, even after a surprise increase in U.S. oil inventories, as traders focused on geopolitical risks and confidence in the summer driving season.<\/p>\n\n\n\n Data from the American Petroleum Institute revealed a rise of around 0.9 million barrels in U.S. oil inventories for the week ending June 21, contrary to expectations of a 3 million barrel draw. However, investors remained optimistic about inventory drawdowns during the peak third-quarter demand season, with the official data from the Energy Information Administration expected later in the session.<\/p>\n\n\n\n Overall, the stock market’s positive momentum reflects a combination of factors, including a rebound in tech stocks, upbeat corporate outlooks, and optimism about the summer driving season. However, concerns about inflation and the Federal Reserve’s interest rate policy continue to loom large, making the upcoming PCE price index data a key focus for investors.<\/p>\n","protected":false},"excerpt":{"rendered":" U.S. stock index futures climbed on Wednesday, continuing a recovery in the tech sector, led by a surge in Nvidia shares and an optimistic outlook from delivery giant FedEx. Dow Jones Futures held steady, while S&P 500 Futures gained 0.2% and Nasdaq 100 Futures jumped 0.3%, indicating a positive start for the trading day. This …<\/p>\n","protected":false},"author":9,"featured_media":98159,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6959,6936,6876],"class_list":["post-102925","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-iea","tag-oil-prices","tag-opec"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/102925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=102925"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/102925\/revisions"}],"predecessor-version":[{"id":102926,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/102925\/revisions\/102926"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/98159"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=102925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=102925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=102925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}