Wall Street futures inch up on rate-cut bets
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U.S. stock index futures edged higher on Wednesday as investors strengthened bets on an earlier start to rate cuts by the Federal Reserve this year than previously expected. Markets are now pricing in about 44 basis points of easing this year. Additionally, expectations for a September rate reduction now stand around 65%, versus below 50% last week, according to the CME’s FedWatch tool. Rate-sensitive megacap stocks rose in premarket trading, with Nvidia, Microsoft, and Amazon.com up between 0.4% and 1.6%. Among individual movers, budget retailer Dollar Tree rose 2.2% after a report that the company plans to explore options that include a potential sale or spin-off of Family Dollar. Intel gained 1.0% after buyout firm Apollo Global Management agreed to purchase a 49% equity interest for $11 billion in a joint venture related to the chipmaker’s Ireland manufacturing unit. CrowdStrike Holdings jumped 7.4% after forecasting second-quarter revenue above estimates when markets closed on Tuesday, helped by strong demand for its cybersecurity offerings.

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https://kdal610.com/2024/06/05/wall-street-futures-inch-up-on-rate-cut-bets/