U.S. stock futures embarked on a slight rise on Wednesday, marginally recovering from a low start to the week as investors await the release of the minutes from the Federal Reserve’s December Policy Meeting. These minutes are expected to give an indication of the direction that the central bank will take with regard to its next rate decision.
S&P 500 futures gained 0.3% on Wednesday morning, while futures on the Dow Jones Industrial Average climbed by 0.2%. Futures listed on the Nasdaq Composite Index rose by 0.5%.
This rise is a reversal of the bleak start to 2023 that was faced by U.S. futures. The averages of all three indexes were lower on Tuesday.
Tesla remains one of the widley-watched stocks this week after its shares plummeted by 12% during the first day of the trading in 2023 for US stocks on Tuesday. In addition to being the company’s largest drop in two years, the decline erased the recovery gains made by the electric car manufacturer during the final three sessions of 2022.
Alibaba, on the other hand, emerged as a major winner of Wednesday, with the Chinese e-commerce giant’s stock soaring by over 7% after CEO Jack Ma earned approval from Chinese regulators to raise funds for subsidiary Ant Group’s consumer finance business.
