Tech, Fed Outlook Point to New Highs on Wall Street; Asia, Europe Up

07:10 AM EDT, 10/02/2025 (MT Newswires) -- Wall Street futures pointed again to new highs, as investors crowded back into tech shares and bet on rate cuts from the Federal Reserve.

Following the sagging ADP national employment report on Wednesday, the CME FedWatch tool estimates a 98.9% chance of a 0.25% rate cut at the central bank's late October policy session.

In the futures, the S&P 500 rose 0.2%, the Nasdaq inclined 0.4% and the Dow Jones was off 0.1%.

Asian exchanges traded solidly higher overnight on tech rallies, and the Seoul KOSPI equity index struck an all-time apex, after announcement of deal between Samsung Electronics, SK Hynix and the US-based OpenAI to build ChatGPT Stargate-type data-centers in South Korea.

The deal triggered rallies in tech shares across the Asian Pacific, that extended into US and European markets.

On the economic calendar is the Challenger Job-Cut report for September at 7:30 am ET. Other releases, from the federal government, are suspended.

Dallas Federal Reserve President Lorie Logan speaks on Thursday.

In pre-market action, bitcoin traded at $118,673, West Texas Intermediate crude oil traded lower at $61.46, and 10-year US Treasuries offered 4.09%. Spot gold traded for $3,882 an ounce.

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