Semiconductor Surge: ASML's Success Paces Nasdaq Gains

Nasdaq futures rose as semiconductor stocks rallied following strong orders for ASML. The Federal Reserve's expected interest rate decision had investors cautious, while looming tariffs from Trump added to market tension. Major companies like UPS and T-Mobile are set to report earnings amid mixed stock performances.

Nasdaq futures saw an uptick on Wednesday, driven by a rally in semiconductor stocks as ASML's quarterly orders surpassed predictions. Investors remain cautious ahead of the Federal Reserve's impending interest rate decision expected later in the day.

Central bank observers largely anticipate a stable lending rate from the Fed, with zero expectations for a cut amidst Trump's proposed tariffs that threaten to advance inflation and slow any potential rate cuts. The White House confirmed the President's intention to impose tariffs on Canada and Mexico starting Saturday.

The market braces for the personal consumption expenditures price index reading on Friday, and major earnings reports from companies like Microsoft and Tesla. Meanwhile, semiconductor stocks, including KLA Corp and Micron Technology, jumped in premarket trading following ASML's positive outlook.

(With inputs from agencies.)