US Futures Steady After Tech

US Futures Steady After Tech-Led Rally

US stock futures were little changed on Wednesday after the major averages reached fresh record highs in the previous session, supported by a strong rally in technology stocks.

During regular trading on Tuesday, the S&P 500 and Nasdaq Composite advanced 0.58% and 0.45%, respectively, with both indexes closing at record levels.

Chipmakers were among the strongest performers, led by AMD (2.8%), Marvell Technology (5.8%) and Broadcom (3.7%).

Sentiment was further supported as the rise in bond yields paused, easing pressure on the tech sector’s credit outlook.

Meanwhile, oil prices recovered as ongoing risks to Middle East energy flows outweighed signs of improving regional supply.

Investors now await minutes from the Federal Reserve’s latest meeting for further clues on the outlook for monetary policy.