U.S. stock futures rise on tech rebound

S&P 500 Futures gained 0.1% to 6,806.75 points, Nasdaq 100 Futures added 0.2% to 25,370.75 points, while Dow Jones Futures increased 0.1% to 46,895.0 points

U.S. stock index futures rose on Wednesday evening, extending gains after a strong technology-driven session on the stock exchange as markets largely looked past growing economic and political risks.

Focus is now on an upcoming address by central bank Chair Jerome Powell on Thursday. Persistent bets on more interest rate cuts by the bank also buoyed that country’s main stock exchange, especially after the minutes of the bank’s September meeting pointed to more cuts ahead.

But the government remained partially shut down, with political deadlock in Congress, over a spending bill, showing few signs of clearing.

Doubts over Japanese fiscal health and a government collapse in France also spurred risk aversion, driving gold prices to record highs.

S&P 500 Futures gained 0.1% to 6,806.75 points, while Nasdaq 100 Futures added 0.2% to 25,370.75 points by 00:04 GMT. Dow Jones Futures increased 0.1% to 46,895.0 points.

The minutes of the central bank’s September meeting, released on Wednesday, showed most policymakers favoured more easing by the bank, amid risks from a cooling labour market.

But they were uncertain on just how low rates should drop, especially as U.S. inflation remained sticky. Comments from several bank officials this week also reflected caution over future rate cuts.

While ultra-dovish members such as Governor Stephen Miran have called for an outsized 50 basis point cut, they rank among the minority in the bank’s rate-setting board.

But the bank still has to contend with a lack of clarity on the U.S. economy, as a shutdown delayed the release of several economic prints.

Stock indexes gained on Wednesday, hitting record highs as tech shares rebounded from some losses in the prior session. Focus is now on the upcoming third-quarter earnings season.