Dow Jones futures fell 0.11% to trade below 47,400 during European hours ahead of the opening of the United States (US) regular session on Thursday. Meanwhile, S&P 500 futures and Nasdaq 100 futures declined by 0.14% and 0.24%, trading around 6,820 and 25,700, respectively.
US index futures struggled as traders adopted a cautious stance amid weakening odds of a Federal Reserve (Fed) rate cut in December. According to the CME FedWatch Tool, Fed funds futures traders are now pricing in a 62% chance of a rate cut in December, down from 68% just a day ago.
Adding to market concerns, the ongoing US government shutdown—which has now become the longest in history—continues to delay the release of key public data and is increasing risk aversion among investors.
Despite these challenges, Wall Street posted moderate gains during Wednesday’s regular US session as traders returned to “buy the dip.” The Dow Jones advanced 0.48%, the S&P 500 rose 0.37%, and the Nasdaq 100 gained 0.65%.
US stocks found support as market sentiment improved following stronger-than-expected private payroll data. The ADP Employment Change report showed an increase of 42,000 jobs in October, a notable rebound compared to the revised 29,000 decrease in September.
AI-related stocks also rebounded after facing earlier pressure from valuation concerns. Semiconductor giant Advanced Micro Devices (AMD) reported stronger-than-expected third-quarter earnings, closing up about 2.5%. Meanwhile, Micron Technology and Broadcom advanced by 8.9% and 2%, respectively.
Market sentiment further improved amid expectations that the US Supreme Court may rule against the Trump administration’s aggressive trade actions under the International Emergency Economic Powers Act (IEEPA). Several justices expressed doubts about the President’s authority to impose sweeping tariffs without Congressional approval.
Overall, investors remain attentive to economic data, Federal Reserve policy signals, and ongoing political developments as they navigate the current market environment.
https://bitcoinethereumnews.com/finance/dow-jones-futures-slip-after-wall-street-posts-gains-us-supreme-court-tariff-case-eyed/
