On Wednesday, US stock futures climbed as Wall Street digested a sector rotation from Big Tech to more defensive market segments while awaiting a pivotal House vote that could end the longest government shutdown in US history.
Dow Jones Industrial Average futures (YM=F) gained 0.1%, building on the blue-chip index's record close in phased trading. S&P 500 futures (ES=F) rose 0.3%, while tech-heavy Nasdaq 100 futures (NQ=F) advanced approximately 0.6%.
Market participants closely monitored Capitol Hill developments after the Senate passed a funding bill late Monday to reopen the government. The legislation now moves to the House, with a vote expected as early as Wednesday afternoon.
Several Federal Reserve officials are scheduled to speak Wednesday, including President Trump's recent appointee Stephen Miran and potential next Fed chair nominee Christopher Waller. Investors sought clues about the central bank's rate decision next month, with most bets still favoring a 25-basis-point cut.
Stocks rallied sharply Monday on shutdown deal progress, but Tuesday saw mixed trading: The Dow Jones Industrial Average (^DJI) surged over 550 points to a fresh record, while the tech-heavy Nasdaq Composite (^IXIC) declined as investors took profits from AI-related high-flyers. The S&P 500 (^GSPC) edged higher for its third consecutive gain.
Macroeconomic focus centered on Automatic Data Processing Inc's employment report showing weaker-than-expected October private payrolls, raising fresh labor market concerns. The ADP data gained significance as the shutdown has delayed key federal economic releases.
Earnings season winds down with most companies having reported. Notable names still due this week include Cisco (CSCO), Walt Disney (DIS), and Applied Materials (AMAT).
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