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US stock futures inched higher as investors awaited the latest Federal Reserve policy decision, with markets widely expecting the central bank to implement its first interest rate hike in roughly three years. Traders are focused on any guidance regarding a possible second increase later this year, with expectations coalescing around potential moves in October or December.
In Tuesday’s regular session, the Dow slipped 0.3%, the S&P 500 fell 0.45%, and the Nasdaq Composite dropped 0.78%. Equities came under pressure from surging oil prices and rising US Treasury yields. Losses were broad-based, with credit-sensitive AI hyperscalers hit particularly hard by higher borrowing costs, including Alphabet (-1.3%), Microsoft (-1.6%), Oracle (-3.1%), and Amazon (-2%).
At the same time, investors continued to assess mounting safety concerns around AI development. Nvidia CEO Jensen Huang, however, argued that additional AI-specific security regulations are not necessary, maintaining that competitive market forces will push companies to innovate responsibly.
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