U.S. Stock Futures Rise After S&P 500 Hits Record High

U.S. stock futures edged higher early Tuesday following the S&P 500’s record-breaking rally, led by gains in Seagate Technology (STX) and Albemarle (ALB). Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.31%, 0.20%, and 0.03%, respectively, at 4:32 a.m. EST.

During Monday’s regular trading session, the three major indexes closed in positive territory, marking a record day for the markets. Investors were encouraged by U.S. President Donald Trump’s upbeat comments on trade talks with China. The S&P 500 closed above the 6,600 level for the first time in history, ending up 0.47%. Meanwhile, the Nasdaq Composite advanced 0.94%, and the Dow Jones inched up 0.11%.

All eyes are now on the Federal Open Market Committee (FOMC) meeting scheduled for Wednesday, where the Fed’s interest rate decision will be announced. The Fed is widely expected to cut rates by 25 bps, with a 100% probability according to CME’s FedWatch tool. Traders will also closely follow Fed Chair Jerome Powell’s press conference for signals on the future direction of monetary policy.