U.S. stock futures ticked up Thursday evening after Wall Street closed at record highs, fueled by a rally in Intel and optimism over the Federal Reserve’s first rate cut since December. By 20:16 ET (00:16 GMT), S&P 500 Futures rose 0.2% to 6,704.75, Nasdaq 100 Futures climbed 0.2% to 24,747.75, and Dow Jones Futures gained 0.2% to 46,601.
In regular trading, the S&P 500 advanced 0.5% to 6,631.95, the Dow Jones Industrial Average rose 0.3% to 46,142.24, and the NASDAQ Composite jumped 0.9% to 22,470.73 — all marking fresh record closes.
Intel (NASDAQ: INTC) surged more than 22% after Nvidia (NASDAQ: NVDA) announced a $5 billion investment in the chipmaker, with plans to collaborate on data center and PC processors. The partnership seeks to merge Intel’s x86 architecture and large-scale manufacturing with Nvidia’s AI and graphics platforms, easing investor worries about Intel’s competitive edge.
The deal follows a U.S. government-backed investment in Intel aimed at reviving the struggling chip giant. Nvidia’s involvement gives Intel a critical boost after years of failed turnaround efforts. The news also steadied Nvidia shares, which had dipped earlier in the week amid reports that China directed local tech firms to stop buying its AI chips, a move seen as part of Beijing’s push to strengthen its domestic semiconductor industry.
Broader market sentiment also benefited from the Fed’s 25-basis-point rate cut, lowering the benchmark range to 4.00%-4.25%. Officials projected two more cuts in 2025 and another in 2026. Fed Chair Jerome Powell described the decision as a “risk-management cut,” noting persistent inflation and uneven economic signals. He emphasized that future easing will depend on economic data rather than committing to an aggressive cutting cycle.


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