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Stock futures rose slightly Wednesday following a session where investors sold off technology names and drove a rally in more risk-off parts of the market.
Futures for the Dow Jones Industrials advanced 112 points, or 0.2%, to 48,142.
Futures for the S&P 500 index jumped 23.75 points, or 0.4%, to 6,895.25.
Futures for the NASDAQ popped 155 points, or 0.6%, to 25,795.73.
Consumer stocks such as Walmart, Home Depot and McDonald’s propped up the 30-stock Dow on Tuesday as traders moved into parts of the market with lower valuations and less exposure to the artificial intelligence trade.
The health care sector was the top-performing sector, driven by moves higher in names such as Eli Lilly and Johnson & Johnson.
Darling AI stocks such as Nvidia swung lower on Tuesday, reflecting the uneasy sentiment among investors that tech valuations could be stretched after their recent surge. Talks of a stock market bubble have not dissipated either, but investors are showing more disc
Investors also digested a new ADP report that showed private employers cut payrolls in October, adding to worries about labor market weakness. The report received greater focus since the record-setting U.S. government stoppage has halted many crucial economic releases.
The U.S. government could reopen as soon as the end of this week. The Senate on Monday evening passed a spending bill that has since moved to the House of Representatives for a final vote.
In Japan, the Nikkei 225 was 0.4% above breakeven Wednesday, while in Hong Kong, the Hang Seng hiked 0.9%
Oil prices dipped 82 cents to $60.22 U.S. a barrel.
Gold prices hiked $19.90 to $4,136.20 U.S. per ounce.
