U.S. stock futures were uneven Wednesday, with tech under pressure as investors questioned whether premium valuations can hold without stronger earnings. By 05:55 ET (10:55 GMT), Dow futures +28 pts (+0.1%)<\/strong>, S&P 500 futures \u221218 pts (\u22120.3%)<\/strong>, Nasdaq 100 futures \u2212120 pts (\u22120.5%)<\/strong>. The cash market fell sharply Tuesday: S&P 500 \u22121.2%<\/strong>, Dow \u22120.5%<\/strong>, Nasdaq \u22122.0%<\/strong>.<\/p>\n\n\n\n Warnings from bank chiefs intensified the rethink on multiples. Morgan Stanley<\/strong> CEO Ted Pick said equities could see a 10%\u201315% drawdown<\/strong>, framing it as a healthy reset after AI-led exuberance. Goldman Sachs<\/strong> CEO David Solomon flagged \u201cbubble-like dynamics<\/strong>\u201d in mega-cap tech that look unsustainable without faster profit growth. The remarks sharpened concerns about concentration risk in the \u201cMagnificent Seven,\u201d where market caps have surged to records this year.<\/p>\n\n\n\n A prolonged U.S. government shutdown has sidelined key official releases, leaving the ADP private payrolls<\/strong> report to fill the gap. Fed rhetoric remains mixed: some officials floated scope for a December cut<\/strong> if inflation cools; others argued policy should stay restrictive<\/strong> given resilient demand and jobs. Consensus looks for ~+30k<\/strong> in ADP after a \u221232k<\/strong> prior print\u2014an in-line outcome would likely keep December cut odds muted<\/strong>.<\/p>\n\n\n\n With ~360 S&P 500<\/strong> companies reported, ~82%<\/strong> have beaten estimates (FactSet), but guidance and multiple compression are dictating the tape. Until macro visibility improves and leadership broadens beyond mega-cap tech, rallies may remain fragile<\/strong> and headline-driven<\/strong> into month-end.<\/p>\n","protected":false},"excerpt":{"rendered":" U.S. stock futures were uneven Wednesday, with tech under pressure as investors questioned whether premium valuations can hold without stronger earnings. By 05:55 ET (10:55 GMT), Dow futures +28 pts (+0.1%), S&P 500 futures \u221218 pts (\u22120.3%), Nasdaq 100 futures \u2212120 pts (\u22120.5%). The cash market fell sharply Tuesday: S&P 500 \u22121.2%, Dow \u22120.5%, Nasdaq …<\/p>\n","protected":false},"author":9,"featured_media":115890,"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":[6827,49,39,36],"tags":[],"class_list":["post-120614","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-global-stock-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120614","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=120614"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120614\/revisions"}],"predecessor-version":[{"id":120615,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120614\/revisions\/120615"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/115890"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=120614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=120614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=120614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bubble Jitters Hit Mega-Caps<\/h2>\n\n\n\n
Policy Uncertainty Elevates ADP<\/h2>\n\n\n\n
Pre-Market Movers<\/h2>\n\n\n\n
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Earnings Scorecard<\/h2>\n\n\n\n