Tech Titans Boost Investor Optimism Amid Economic Data Watch

On Wednesday, futures for the S&P 500 and Nasdaq saw a modest rise as investors prepared for critical economic data releases, a Federal Reserve policy announcement, and earnings reports from leading technology firms. At 06:58 a.m. ET, S&P 500 E-minis increased by 7.75 points (0.12%), Nasdaq 100 E-minis grew by 53 points (0.23%), while Dow E-minis climbed by 18 points (0.04%).

Tuesday marked the end of a record-breaking streak for the S&P 500 and Nasdaq, exacerbated by underwhelming results from Dow constituents UnitedHealth and Merck. However, investors are optimistic about potential market highs following earnings reports from Microsoft and Meta Platforms. Amazon and Apple, both scheduled to report on Thursday, are also under the spotlight.

While Starbucks shares surged by 4.5% in premarket activities after a strong third-quarter revenue report, Visa dropped 1.7% despite exceeding earnings forecasts, as it maintained its annual revenue growth outlook. In light of new economic data including GDP and payroll figures, expected to provide clues about economic endurance, investors await the Federal Reserve's interest rate announcement, focusing on chair Jerome Powell's comments regarding future fiscal actions.

(With inputs from agencies.)