Nasdaq Futures Climb as ASML Orders Boost Techs, Fed Decision Ahead
Nasdaq futures rose Wednesday, buoyed by strong orders for chipmaker ASML (ASML). However, overall sentiment remained muted ahead of major tech earnings and the Federal Reserve's rate decision.
Contracts on the Nasdaq 100 (NQ=F) gained 0.4%, extending a sharp closing advance. S&P 500 futures (ES=F) hovered around the flatline, while Dow Jones Industrial Average futures (YM=F) saw little change.
The looming Fed announcement has markets cautious, despite expectations that rates will remain unchanged. Investors eagerly await Jerome Powell's press conference for insights into potential future rate cuts and the central bank's stance in light of President Trump's trade actions.
Surprising order growth at ASML, a leading supplier to AI chipmakers, provided an additional boost to the tech sector. ASML shares surged 7% in pre-market trading, joined by gains in peers like Applied Materials (AMAT).
Markets are reassessing assumptions about AI spending and costs after Chinese startup DeepSeek challenged industry norms. Alibaba (BABA) shares rose after the tech giant introduced an AI model it claims outperforms DeepSeek's ChatGPT competitor.
Controversy persists, with Microsoft-backed (MSFT) OpenAI alleging that DeepSeek utilized its proprietary models for training.
Attention now turns to quarterly earnings reports from Meta (META) and Microsoft, expected after the bell. Investors seek reassurance that Big Tech's heavy investments in AI will yield growth.
Tesla (TSLA) rounds out Wednesday's major earnings releases, with Wall Street eager for a catalyst to revive the stock.