Investing.com-- U.S. stock futures were little changed on Wednesday evening after Wall Street closed higher, as bets on a rate cut by the Federal Reserve firmed up following fresh economic data.
S&P 500 Futures were unchanged at 6,861.0 points, while Nasdaq 100 Futures inched down 0.1% to 25,634.75 points by 21:11 ET (02:11 GMT). Dow Jones Futures traded 0.1% higher at 47,996.0 points.
Wall St gains as US data supports Fed easing bets
In the regular session, the Dow Jones Industrial Average rose 0.9%, the S&P 500 gained 0.3%, and the NASDAQ Composite edged up 0.2%.
Traders and investors have upped their expectations that the Fed will lower interest rates at next week’s policy meeting, pricing in roughly a 90% chance of a 25-basis-point cut.
That shift was fueled in part by a weaker-than-expected reading from the private sector labour market. ADP said U.S. private payrolls shrank by 32,000 in November — a surprising drop after a revised gain the prior month and far below economists’ consensus for a gain.
The unexpected job losses heightened concerns over a cooling labour market, pushing markets to believe the Fed may ease to stave off economic weakness.
Meanwhile, the Institute for Supply Management (ISM) services index for November came in at 52.6 -- its strongest in nine months -- while underlying price measures eased, offering a more benign inflation backdrop.
Adding to the dovish sentiment is growing speculation over the next Fed leadership. Reports that the Trump administration abruptly cancelled interviews with other Fed chair candidates have strengthened the view that Kevin Hassett -- widely perceived as more dovish than current chair Jerome Powell -- could take the helm in 2026.
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Microsoft slips on reported AI sales target cuts
Salesforce Inc (NYSE:CRM) shares rose 5% in extended trading after beating consensus figures on the top and bottom line. Salesforce raised full-year FY26 revenue guidance to $41.45 billion to $41.55 billion, up 9% - 10% year-over-year.
Five Below Inc (NASDAQ:FIVE) rose 2.7% after a solid performance. Comparable sales increased by 14.3%.
Meanwhile, Microsoft Corporation (NASDAQ:MSFT) stock fell 2.4% on Wednesday even as the tech giant denied a report from The Information that suggested the tech giant was cutting sales targets related to AI.
