Tech Giants Fuel Market Surge Amid AI Spending Bonanza

U.S. stock index futures inched up as tech giants boosted AI investment. Meta and Tesla saw gains, while Microsoft's cloud struggles spooked investors. The Fed held steady on rates. Rare-earth miners dropped after news of potential Trump administration shifts on mineral price floors.

U.S. stock index futures ticked upward on Thursday, influenced by significant AI-related investment from major tech players and the Federal Reserve's decision to maintain current interest rates.

Meta and Tesla posted notable premarket gains following substantial capital expenditure announcements, while Microsoft's figures disappointed investors. The 'Magnificent Seven' continue to drive the U.S. equities rally, despite concerns about AI expenditure returns.

The Federal Reserve's steady interest rate decision was anticipated, with minor changes in the S&P 500 and Dow. Political maneuverings around federal immigration restrictions and rare-earth mineral market movements also captured market attention.

(With inputs from agencies.)