Dow Futures edged up slightly on Wednesday as investors kicked off the second half of the year by easing up on tech sector exposure.
At the time of publication, the Dow Jones Industrial Average futures rose by over 100 points, or about 0.2%.
S&P 500 futures saw a modest gain of 0.1%, while Nasdaq 100 futures hovered near unchanged levels.
The upbeat trend came as the Dow Jones climbed 400 points on Tuesday, marking a strong performance for blue-chip stocks.
In contrast, the S&P 500 dipped by 0.1%, and the Nasdaq Composite fell 0.8% as investors pulled back from the tech sector, which had been central to the market’s recovery in the second quarter.
The market sentiment seems a bit cautious as investors await key economic data.
The ADP’s private employment data is all set to arrive before the opening bell.
Economists surveyed by Dow Jones expect private sector job growth to reach 120,000 in June, a significant jump from May’s modest increase of 37,000.
June jobs data is scheduled to be released on Thursday and is expected to have a major impact on market movements.
Dow Futures steady as Fed chief signals potential rate cuts soon
US Federal Reserve Chairman Jerome Powell made some intriguing remarks on Tuesday.
Powell said that the benchmark interest rates would be lower if US President Donald Trump didn’t announce sweeping tariffs on various nations.
“We went on hold when we saw the size of the tariffs and essentially all inflation forecasts for the United States went up materially as a consequence,” Powell said during a panel discussion at a European Central Bank forum.
He further added that any potential rate cuts can come as early as this month.
“I wouldn’t take any meeting off the table or put any on the table. It depends on how the data evolve,” the Fed chief added.
The remarks by Powell came as President Donald Trump made several personal attacks on him for not reducing the interest rates.
Trump tax-cut plan returns to House
The lawmakers are set to revisit a major tax and spending package in the House on Wednesday, as they race to settle internal disagreements and push the bill through before their July 4 target date.
The Senate narrowly approved the measure on Tuesday following heated discussions over its steep cost estimated by independent analysts to increase the national debt by $3.3 trillion over the next ten years and its deep reductions to Medicaid funding.
US President Donald Trump laid a special emphasis on the July 4 target, which was reiterated by the House Speaker on Tuesday.
“The House will work quickly to pass the One Big Beautiful Bill that enacts President Trump’s full America First agenda by the Fourth of July,” House Speaker Mike Johnson said in a statement on Tuesday.
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