US stock futures steady after Wall St gains on Fed cut bets, crypto rebound

Published 03/12/2025, 03:18
© Reuters

Investing.com-- U.S. stock futures were little changed on Tuesday evening after Wall Street ended modestly higher, as growing confidence in a Federal Reserve rate cut and a rebound in Bitcoin helped steady sentiment.

S&P 500 Futures inched up 0.1% to 6,849.0 points, while Nasdaq 100 Futures gained 0.1% to 25,639.75 points by 21:05 ET (02:05 GMT). Dow Jones Futures traded 0.2% higher at 47,614.0 points.

Wall St gains on Fed cut bets

In the regular session, the Dow Jones Industrial Average rose 0.4%, the S&P 500 gained 0.3%, and the NASDAQ Composite climbed 0.6%.

Investors have sharply scaled up expectations that the Fed will deliver a 25-basis-point cut at its Dec. 9–10 meeting. According to the CME FedWatch Tool, the probability of a rate cut now stands at roughly 89%.

On the economic front, attention is turning to Wednesday’s release of the private-sector payrolls report from ADP Research Institute, offering an early peek at the strength of the labour market.

Later, on Friday, markets wait for the delayed publication of the Personal Consumption Expenditures Price Index (PCE), the Fed’s preferred gauge of inflation, along with personal income and spending figures.

The PCE print could heavily influence expectations about the magnitude and timing of rate cuts.

Meanwhile, risk assets got a boost from a rebound in cryptocurrency markets. Bitcoin climbed back above the mid-$90,000 range after sharp losses earlier in the week, giving a lift to crypto-linked stocks and improving overall risk appetite among investors.

The rebound in crypto and tech names helped underpin broader gains on Wall Street.

Boeing jumps on forecast; Marvell to buy Celestial AI

Boeing Co (NYSE:BA) shares jumped 10% after the company guided free cash flow to turn positive for 2026, and the aircraft maker also won a contract from the U.S. Navy worth $104.4 million to repair displays in aircraft.

In post-market trading, Marvell Technology (NASDAQ:MRVL) surged 10% after the chipmaker said it will acquire semiconductor startup Celestial AI in a $3.25 billion deal, marking one of its biggest pushes yet into next-generation optical connectivity for AI data centres.

Additionally, Dell Technologies Inc (NYSE:DELL) (NYSE:DELL) stock rose Tuesday after President Donald Trump praised the Dell family following their massive philanthropic donation.

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