Traders work on the floor of the New York Stock Exchange, United States, June 3, 2026.
Brendan McDermid | Reuters
U.S. stock futures were mixed Wednesday morning as investors awaited earnings from large-cap technology companies and a rate policy decision from the Federal Reserve expected Wednesday.
S&P500 futures rose slightly and Nasdaq-100 futures rose 0.5%. Dow Jones futures were down 0.2%.
In Asia, the Japanese Nikkei 225 closed up 1.08% and that of South Korea Kospi increased by 6.63%. The Australian reference S&P/ASX200 was flat. Mainland China’s CSI 300 index closed 0.85% higher.
During regular US trading on Tuesday, the main averages ended the session higher. Chip stocks have risen again, this time thanks to Broadcom’s announcement that a group of banks will provide $63 billion in financing to buy the company’s chips and networking solutions, which will be leased to Anthropic, the company behind Claude. Broadcom rose 4%, while Advanced microdevices climbed 5.5% and Micron technology increased by 2.8%.
These movements led the Nasdaq Composite to increase by 1.2% over the session.
Stocks were also supported by lower oil prices, which fell following news that Iranian Supreme Leader Mojtaba Khamenei was meeting with top national security official Mohsen Rezaei to discuss conditions for ending the war with the United States.
On Wednesday, however, the focus will shift to domestic monetary policy as the Fed wraps up its two-day policy meeting. The central bank is widely expected to keep interest rates stable within a target range of 3.75% to 4%. Policymakers raised rates by a quarter of a percentage point at their September meeting.
According to CME’s FedWatch tool, there’s about a 92% chance the Fed will maintain its current interest rate, but some expect its Chairman, Kevin Warsh, to signal that further hikes are coming at upcoming policy meetings. The interest rate decision will be announced at 2 p.m. ET.
However, after the bell on Wednesday, investors will turn their attention to AI trading, as the ‘Magnificent Seven’ giants Alphabet And Microsoft will kick-start Big Tech profits.
Tech stocks, particularly those exposed to AI development, have struggled in recent weeks due to questions about technology financing. However, Mike Wilson, chief U.S. equity strategist at Morgan Stanley, believes the recent rally in tech stocks is a sign the trend may be coming to an end.
“Most of the correction is already complete,” he said Tuesday during an appearance on CNBC’s “Closing Bell.” “We’ve been in correction mode for four or five months…I think the market has digested this very effectively.”
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