Stock futures rose Wednesday, with Wall Street looking to build on back-to-back winning sessions.
Futures for the Dow Jones Industrials nicked up 12 points to 47.191.
Futures for the S&P 500 index gained seven points, or 0.1%, to 6,788.50.
Futures for the NASDAQ moved ahead 46 points, or 0.2%, to 25,131.50.
Alphabet shares continued to move higher, ticking higher by more than 1% in the premarket after gaining more than 1% in the prior trading day. The stock has risen about 8% this week.
The three U.S. stock indexes ended Tuesday higher after a volatile trading session. The 30-stock Dow Jones Industrial Average closed up more than 660 points, or 1.4%, and logged a third consecutive positive session.
Several tech stocks also climbed higher to lift the broader market. Alphabet hit fresh record highs on a report that Meta Platforms is considering using the Google parent’s TPU chips in 2027. Chipmaker Nvidia shed more than 2.5%, meanwhile.
Investors continue to monitor catalysts that could affect the Federal Reserve’s next interest rate move. Traders are pricing in a roughly 85% chance of a quarter percentage point cut from the Fed in December.
Treasury Secretary Scott Bessent told reporters Tuesday that there’s a “very good chance” that Trump will “make an announcement before Christmas” on who will be the next Fed chair. While he said he was interviewing candidates, expectations are shifting toward White House National Economic Council Director Kevin Hassett, after Bloomberg reported he had emerged as a frontrunner for the job. Hassett is viewed as someone more likely to push for lower rates.
Looking at the overall picture, November has proven to be a difficult month for stocks. All three U.S. indexes are tracking for a losing month as concerns about elevated valuations have cooled the momentum behind some high-flying tech stocks. The S&P 500 is down about 1.1% in November, while the tech-heavy NASDAQ has lost nearly 3%. The Dow has declined about 1% month to date.
The stock market will be closed on Thursday for Thanksgiving Day, and it shuts down early at 1 p.m. ET on Friday.
In Japan, the Nikkei 225 jumped 1.9% Wednesday, while in Hong Kong, the Hang Seng edged 0.1%
Oil prices declined 18 cents to $57.77 U.S. a barrel.
Gold prices added $27.30 to $4,167.30 U.S. per ounce.
