U.S. Stock Markets Surge to Record Highs Amid Economic Data Anticipation

U.S. stock markets soared to new heights as investors awaited key data and Federal Reserve Chair Jerome Powell's remarks. The S&P 500 and Nasdaq reached record highs, driven by strong performance in tech stocks. Market participants are increasingly betting on potential interest-rate adjustments by the Fed.

On Wednesday, U.S. stock index futures climbed to unprecedented levels, with the S&P 500 and Nasdaq achieving record highs. This surge comes as investors anticipate crucial economic data and remarks from Federal Reserve Chair Jerome Powell.

Market analysts are closely monitoring developments, especially as traders project a 74% likelihood of a 25-basis-point rate cut by the Federal Reserve this month. With investors betting on further rate adjustments, Federal Reserve officials maintain their belief that inflation is on track toward a 2% target.

S&P 500 E-minis gained 18.5 points, reaching an all-time high. Notably, Salesforce's shares soared 12.6% after exceeding revenue forecasts, alongside other tech giants like Microsoft and Nvidia, bolstering market gains.

(With inputs from agencies.)