Tech Surge Pushes Nasdaq Past 20,000 Amid Market Pause

U.S. stock index futures paused after a robust session as Nasdaq broke the 20,000 barrier, driven by tech stocks. Investors await economic data with expectations of a January pause following a likely Fed interest rate cut. Adobe and Chewy moved premarket on earnings forecasts and stock offerings.

U.S. stock index futures took a breather on Thursday as the S&P 500 and Nasdaq ended the previous day on a positive trajectory, leaving investors eager for more economic data.

The Nasdaq's historic breach of the 20,000 mark, bolstered by tech rally momentum, and the S&P 500's surge to its highest close in a week were underpinned by inflation readings aligning with an anticipated 25 basis point Fed rate cut. This expectation, pegged at over 98% of trader confidence, follows recent mixed employment data.

Though market sentiment anticipates a pause in rate cuts come January, caution lingers due to Fed officials' advisories against hasty easing. Upcoming economic indicators, such as producer prices and unemployment claims, might further illuminate economic resilience. Pre-market trading saw Adobe slip and Chewy decline due to financial forecasts and a key stakeholder's stock adjustment.

(With inputs from agencies.)