U.S. stock futures climb as tech shares and lower oil prices support markets

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U.S. stock futures rise

Highlights

Nasdaq-100 futures rose 0.37%, and S&P 500 futures gained 0.29%.
UPS, JetBlue, and Broadcom advanced, while Whirlpool declined.
Investors await Fed signals on interest rates and inflation.

The latest market readings showed Nasdaq-100 futures rising 0.37% to 29,546.25, while S&P 500 futures gained 0.29% to 7,736.50 and Dow Jones futures advanced 0.28% to 52,696. According to CNBC, futures extended Monday's gains on Wall Street, when technology stocks outperformed following Anthropic's filing for a Nasdaq listing.

Earnings produce mixed reactions

Quarterly results drove sharp moves in individual stocks. UPS rose more than 1% after reporting third-quarter earnings that exceeded expectations. JetBlue shares surged more than 13% in premarket trading despite a larger-than-expected loss, as investors focused on the airline's forecast for further margin improvement in the fourth quarter.

Whirlpool moved in the opposite direction, falling 6% after reporting an unexpected quarterly loss. Broadcom gained more than 2% following the announcement of $63 billion in financing involving Bank of America, Citi, Morgan Stanley, and Blackstone to support purchases of Broadcom technology for Anthropic.

Oil prices also eased, reducing some immediate concerns about energy-driven inflation. U.S. West Texas Intermediate crude fell nearly 1% to around $101 a barrel, while Brent declined about 0.77% to approximately $114.

Fed decision remains the central risk

The Federal Reserve begins its two-day policy meeting Tuesday, with markets expecting interest rates to remain unchanged. Investors will examine the voting breakdown and subsequent policy signals for indications of whether officials might consider another increase before the end of 2026.

Economic reports on durable goods orders, consumer confidence, and new home sales could provide further evidence about demand and the resilience of the U.S. economy. Together, those releases may influence expectations for interest rates beyond the immediate meeting.

Market gains face a monetary policy test

The advance in futures suggests investors remain willing to buy equities despite high-energy costs and uncertainty over monetary policy. Technology spending and corporate earnings are providing support, but the broader market remains sensitive to any change in inflation expectations.

Overseas markets also posted gains. Europe's Stoxx 600 rose 1.34%, while Japan's Nikkei 225 climbed 1.87% and South Korea's Kospi advanced 2.87%. For U.S. investors, the immediate test will be whether earnings-driven momentum can hold if the Fed signals that borrowing costs could remain elevated or rise further.

As we previously reported, U.S.-Canada trade talks gain momentum ahead of midterm elections.

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