Tech Stocks Surge as Market Awaits Fed's Move

U.S. stock index futures rose on Wednesday, led by tech stocks, as AI concerns abated. Investors are keenly awaiting the Federal Reserve's minutes for hints on interest rates. Notable rises include Nvidia and Amazon, while earnings reports impact stocks like Analog Devices and Palo Alto Networks.

U.S. stock index futures climbed on Wednesday morning, driven primarily by a rally in tech stocks following a pause in anxiety over AI technology's rapid advancement. Investors are also anxiously awaiting the Federal Reserve's minutes for insights into future interest rate changes.

Market volatility continues, with the S&P 500 rebounding on Tuesday after earlier declines. Noteworthy gains were seen in megacap stocks such as Nvidia and Amazon, reflecting broader positivity in premarket trading ahead of the Fed's upcoming report release.

Earnings performance influenced stock movements, with Analog Devices rising on better-than-expected forecasts, while Palo Alto Networks dropped after cutting its profit outlook. Meanwhile, New York Times shares surged after Berkshire Hathaway's investment, and Western Digital's stake sale sent Sandisk shares down.