Wall Street Eyes Fed Rate Cuts Amid Economic Data Watch

U.S. stock index futures rose slightly as investors anticipate a Federal Reserve rate cut in December. Key reports, such as jobless claims and durable goods, are awaited. Meanwhile, tech stocks have faced setbacks, but companies like Dell show gains. Holiday sales projections are optimistic amidst mixed retail forecasts.

U.S. stock index futures edged higher Wednesday morning, driven by anticipation of a Federal Reserve interest rate cut in December, as investors await key economic data releases. Wall Street's main indexes recorded a third straight gain, with the S&P 500 reaching a two-week high amid signs of diminishing consumer demand.

Market participants will scrutinize upcoming data on weekly jobless claims and a delayed September durable goods report to gauge the state of the economy. The Federal Reserve's Beige Book, a summary of economic conditions, is also set for release. Recent comments from Fed officials have increased the likelihood of a rate cut next month.

In the corporate sector, Dell saw a 2.9% rise in premarket trading after surpassing quarterly forecasts. However, tech stocks continued to face challenges, with Nvidia and AMD shares falling amid competition concerns. As the holiday shopping season looms, retailers brace for a potentially strong sales period, with projections exceeding $1 trillion.

(With inputs from agencies.)