Tech Stocks Surge Amid First Fed Decision Under New Chair Warsh

Investors are focused on the first interest rate decision under new Federal Reserve Chairman Kevin Warsh. While tech stocks, including SpaceX, are seeing significant gains, concerns over inflation and the U.S.-Iran agreement's impact on oil prices and the economy remain. The Fed is likely to hold interest rates, with keen interest in Warsh's comments.

As investors hone in on the first interest rate decision by new Federal Reserve Chairman Kevin Warsh, U.S. stock index futures showed restraint on Tuesday. Meanwhile, SpaceX continued its post-IPO success, witnessing a 10% rise in shares, positioning to potentially overtake Amazon in market value.

The tech sector provided a bright spot in premarket trading. Memory chip companies, including Micron Technology, Western Digital, and Seagate Technology, saw notable increases, ranging between 2.9% and 4.8%.

Meanwhile, a new U.S.-Iran agreement hinting at an end to the conflict led to a drop in oil prices and eased inflation fears. However, skepticism around the deal persists. Investors are watching closely as inflation remains over a percentage point above the Fed's target, pending insights from Warsh on the economic outlook.