US stock futures inched up on Wednesday after the S&P 500 surged to a fresh record in the final minutes of Tuesday’s session.
Futures tied to the S&P 500 (ES=F) and Dow Jones (YM=F) rose 0.01%, while Nasdaq futures (NQ=F) gained 0.2%. The S&P 500 closed at a record high of 6,129.58, its first new peak since January 23, fueled by late-session buying despite concerns over fresh tariffs from former US President Donald Trump, shifts in the tech sector, and the Federal Reserve’s cautious stance on interest rates.
Tariffs, Tech Moves, and AI Rally in Focus
Trump announced on Tuesday that a 25% tariff on foreign automobiles could take effect as soon as April 2, with similar duties expected on semiconductor and pharmaceutical imports.
In the tech sector, Intel (INTC) saw its largest five-day gain in history after reports emerged that two of its competitors are exploring deals that could break up the company. Meanwhile, Meta (META) saw its 20-day winning streak end with a pullback.
AI-driven stocks continued their momentum in after-hours trading, with Super Micro Computer, Inc. (SMCI) rising over 3% and Palantir (PLTR) approaching an all-time high.
Fed Minutes and Earnings Reports Awaited
Investors are now focused on the release of the Federal Reserve’s January meeting minutes, which could provide further insights into policymakers’ views on inflation and interest rates. Fed officials recently reiterated their commitment to maintaining current interest rate levels amid persistent inflation concerns.
