Traders work at the New York Stock Exchange on May 9, 2025.
NYSE
U.S. stock futures rose slightly on Wednesday, as Nvidia continued to lead tech shares higher.
Dow Jones Industrial Average futures moved up 65 points, or 0.2%. S&P 500 futures added 0.2%, along with Nasdaq 100 futures.
Nvidia shares gained almost 1% in the premarket, as did Broadcom. Meta Platforms and Alphabet also ticked higher before the bell.
Wall Street is coming off a solid session, led by strong gains in tech. The 30-stock Dow rose more than 200 points, or 0.5%, for its fourth positive day. The S&P 500 and the Nasdaq Composite advanced 0.6% and 0.8%, respectively. Nvidia rose nearly 3%, surpassing Microsoft to become the world’s most valuable public company once more.
After Tuesday’s gains, the S&P 500 now sits less than 3% from its 52-week high. The Nasdaq, meanwhile, is less than 4% from its recent high, and the Dow is less than 6%.
The recent gains have investors increasingly confident stocks have turned a corner on tariffs, especially after a series of reversals from President Donald Trump convinced traders the White House is mainly wielding high levies as a negotiating tool. A federal court striking down Trump’s tariffs just last week added to hopes the market has priced in the worst of the tariffs, though they were later reinstated temporarily by an appeals court.
Futures also appeared to look past Trump’s latest remarks. Earlier on Wednesday, he said dealing with Chinese President Xi Jinping has been “extremely hard.”
The increasingly muted response to trade headlines has more market watchers certain there’s further upside for stocks. This week, Deutsche Bank’s chief U.S. equity and global strategist Binky Chadha raised his year-end S&P 500 forecast.
“We have a quiet week, and markets are rallying,” Tom Lee, head of research at Fundstrat Global Advisors, said Tuesday on CNBC’s “Closing Bell.” “I think the risk is now of a substantial leg-up rally from here.”
