Market Surge: Tech Giants Propel Wall Street to New Highs

Wall Street is set for a strong opening as indices hit record highs, bolstered by tech stocks like Salesforce and Marvell Technology. Investors focus on key economic data and Federal Reserve updates. Meanwhile, Salesforce and Okta report strong earnings, further energizing the growth in stocks.

Wall Street is poised to open higher on Wednesday, with the S&P 500 futures reaching all-time highs. The market's upward trajectory is largely driven by tech giants such as Salesforce, which surged 12% after surpassing third-quarter revenue expectations, and Marvell Technology, which jumped 12.8% following optimistic revenue forecasts.

In addition to tech-company performances, investors are closely watching upcoming economic data and Federal Reserve Chair Jerome Powell's remarks. U.S. private payrolls showed a moderate increase in November, with job additions slightly below estimates. The Federal Reserve continues to signal confidence in reaching their inflation target, without a strong stance on further rate cuts.

Meanwhile, Dollar Tree shares rose by 3.3%, and Eli Lilly's stock edged up after positive drug trial results. As the market gears up for further updates from the Fed and other economic indicators, the S&P 500 and Nasdaq continue their record-setting climb, reflecting robust investor confidence.

(With inputs from agencies.)