Wall Street Eyes Fed Rate Cut Amid Economic Indicators

U.S. stock index futures rose as investors speculated on a Federal Reserve interest rate cut in December. Key economic data are awaited for more clarity on the economy's health. Wall Street's main indexes extended gains amid cautious optimism, although tech valuations and ongoing political influences remain concerns.

U.S. stock index futures climbed on Wednesday as investor sentiment tilted toward a potential Federal Reserve interest rate cut in December. The market awaits critical economic indicators that will provide insights into the health of the global economy.

Wall Street's main indexes enjoyed a third consecutive session of gains, with the S&P 500 closing at a two-week high. The CME Group's FedWatch Tool indicates an 84.9% chance of a 25-basis-point rate cut next month, up from last week's estimates, following dovish Fed commentary.

Investors are also focused on political influences within monetary policymaking, especially with reports suggesting Kevin Hassett as a leading candidate for Fed Chair. Eyes are on the upcoming jobless claims report and durable goods data for clearer guidance on the Federal Reserve's path.

(With inputs from agencies.)