AI Optimism Boosts Tech Stocks Amid Trade Tensions

U.S. stock index futures rose slightly due to Hewlett Packard Enterprise's upbeat AI results, while investors anticipated new data on the economic impacts of Trump's trade tariffs. Global stocks hit record highs. Washington doubled steel and aluminum tariffs, focusing on trade talks with China as markets await economic data releases.

U.S. stock index futures climbed modestly on Wednesday, buoyed by positive results from Hewlett Packard Enterprise, which heightened optimism around artificial intelligence and boosted tech shares. Meanwhile, investors await fresh data to assess the economic repercussions of President Donald Trump's tariff policies.

Hewlett Packard Enterprise saw a nearly 6% rise in premarket trading, driven by strong demand for AI servers and hybrid cloud technology, leading to better-than-expected second-quarter revenue and profit. This boosted tech stocks, with AI chip leader Nvidia gaining 1% alongside other chipmakers like Broadcom and AMD.

Globally, stocks reached record highs, despite uncertainties surrounding U.S. trade policies, after Washington increased tariffs on steel and aluminum imports to 50%. Attention remains on tariff negotiations, particularly between Washington and Beijing, as tensions simmer. Economic data releases and employment reports will provide further clarity ahead of the upcoming U.S. central bank meeting.

(With inputs from agencies.)