Stock market today: Nasdaq futures lead S&P 500, Dow higher with Fed's Powell on deck

Published On Dec 4, 2024, 6:53 AM

U.S. stock futures are up this morning with significant gains in tech stocks, particularly buoyed by Salesforce's impressive quarterly revenue report. The Dow, S&P 500, and Nasdaq are reflecting optimism ahead of Federal Reserve Chair Jerome Powell's speech, where discussions regarding potential interest rate cuts are anticipated. The market is expecting a possible rate cut at the Fed's meeting on December 18, fueled by recent easing signals from Fed officials. Additionally, economic data related to private payrolls is being monitored for insights into the labor market.

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Stock Forecasts

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Positive

Salesforce's strong earnings reflect an increasing appetite for AI solutions, indicating the potential for continued growth in the tech sector. Overall market sentiment is leaning positive with anticipated interest rate cuts, which historically boosts stock prices. Investors may want to focus on the tech sector for potential opportunities, as companies showing strong earnings may lead the market up.

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Positive

The market will be influenced by Fed's insights into the economic policy direction anticipated during Powell's speech. If the Fed signals continued easing, it can lead to a broad market rally. Considering the current expectations, the market may further improve especially in tech but could face volatility due to geopolitical factors, such as the political situations in France and South Korea.

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