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Futures up: Dow 0.42%, S&P 500 0.23%, Nasdaq 0.54%
Dec 4 (Reuters) - U.S. stock index futures rose on
Wednesday, with those tied to the S&P 500 hitting all-time highs
as investors focus on upcoming data and commentary from central
bank officials including Chair Jerome Powell.
November private payrolls data is due at 8:15 a.m. ET, while
the highly anticipated November monthly employment report is
expected on Friday.
Traders currently see a near 74% chance of a 25-basis-point
rate cut by the Fed this month, compared to a more than 66%
chance seen a week earlier, according to CME's FedWatch Tool.
U.S. Federal Reserve officials said on Tuesday they continue
to believe inflation is heading down to their 2% target. While
most signaled support for further interest-rate cuts, none
pushed strongly for or against a reduction at the Fed's meeting
in two weeks.
Comments from Fed Chair Powell are due later in the day,
while the 'Beige Book', a U.S. economic activity survey from the
central bank, is scheduled for release at 2:00 p.m. ET.
November non-manufacturing activity surveys from S&P Global
and the Institute for Supply Management are due shortly after
markets open.
The S&P 500 and the Nasdaq posted record
closing highs on Tuesday, as tech-related stocks continued their
rise in a turbulent session.
U.S. stocks had a solid November after President-elect
Donald Trump recaptured the White House in the Nov. 5 election
and his Republican Party swept both houses of Congress.
The benchmark S&P 500 is up almost 27% so far this year,
significantly outperforming bourses in Europe, Japan
and mainland China.
At 05:03 a.m. ET, Dow E-minis were up 188 points,
or 0.42%, S&P 500 E-minis were up 13.75 points, or
0.23%, hitting all-time highs, while Nasdaq 100 E-minis
were up 114.25 points, or 0.54%.
Most megacap and growth stocks were broadly higher in
premarket trading, with Tesla and Nvidia ( NVDA )
leading gains with a 0.9% rise each.
Salesforce ( CRM ) jumped 12.8% after the enterprise cloud
company beat Wall Street estimates for third-quarter revenue and
raised the lower end of its annual revenue forecast.
Marvell Technology ( MRVL ) advanced 12.4% after the
chipmaker forecast fourth-quarter revenue above analyst
estimates, while digital identity verification firm Okta ( OKTA )
soared 17.2% after reporting third-quarter profit
versus a year-ago loss.