Wall Street Futures Rise Ahead of Thanksgiving Holiday

 

US stock futures edged higher on Wednesday as investors looked to extend the market’s recent rally into the Thanksgiving holiday. Dow Jones Industrial Average futures gained 0.2%, S&P 500 futures rose 0.2%, and Nasdaq 100 futures climbed 0.3%.

The move follows a strong session on Tuesday, when the Dow surged more than 660 points (1.4%), marking its third consecutive day of gains. Tech stocks continued to drive momentum, with Alphabet closing at record highs after reports that Meta may adopt Google’s TPU chips in the coming years. Meanwhile, Nvidia shares slipped over 2.5% as competition in the AI chip space intensified.

Investors are also keeping a close eye on the Federal Reserve. Markets are currently pricing in an 85% probability of a quarter-point rate cut in December, which has helped bolster optimism. Lower Treasury yields and easing inflation pressures have further supported the bullish sentiment.

Through the first two trading days of this holiday-shortened week, the Nasdaq has gained 3.4%, the S&P 500 is up 2.5%, and the Dow has risen 1.9%. With markets closed on Thursday for Thanksgiving and operating on shortened hours Friday, traders are positioning for what could be a fourth straight day of gains.

In summary, Wall Street is entering the holiday period with renewed confidence, buoyed by tech strength, easing inflation signals, and expectations of Fed policy support.