Wall Street futures mixed today: 5 things to know before markets open

• S&P 500 futures were flat, Nasdaq 100 futures rose 0.2%, and Dow futures gained 43 points (0.1%) ahead of the Fed decision expected to keep rates unchanged at 3.50%-3.75%
• SpaceX extended its post-IPO surge, approaching Amazon's market value, while Qualcomm climbed on reports of talks to acquire AI chip startup Tenstorrent for $8-10 billion
• Memory chip stocks (Micron, Western Digital, Seagate) rose 2.9%-4.8% as the AI chip trade broadened, though consumer weakness emerged with Dave & Buster's missing earnings expectations

Market Summary: Wall Street Futures Mixed Ahead of Fed Decision

Market Overview:

U.S. stock futures showed muted movement Tuesday, with S&P 500 futures flat, Nasdaq 100 futures up 0.2%, and Dow futures rising 43 points (0.1%). The cautious tone follows Monday's record-setting session as investors await the Federal Reserve's decision.

Key Developments:

*Federal Reserve Focus:* The Fed is expected to hold rates steady at 3.50%-3.75% on Wednesday. Market attention centers on Chair Kevin Warsh's first policy decision and his guidance on inflation, unemployment, and the rate path. December rate hike remains a possibility despite easing inflation fears.

*Technology Sector Strength:* SpaceX continued its post-IPO rally, approaching Amazon's market valuation. Memory chip stocks surged, with Micron, Western Digital, and Seagate gaining 2.9%-4.8%. Qualcomm climbed on reports of acquisition talks with AI chip startup Tenstorrent for $8-10 billion.

*Oil and Inflation:* Crude prices declined following the U.S.-Iran peace framework, providing some inflation relief. However, inflation remains above the Fed's target, maintaining pressure on monetary policy.

Notable Movers:

• Dave & Buster's fell sharply after missing quarterly earnings and revenue expectations, signaling consumer weakness
• Bank of Japan raised rates to a 31-year high, underscoring global central bank hawkishness

Market Implications:

The session tests whether technology momentum can overcome rate concerns. AI infrastructure stocks are attracting rotation as investors favor hardware plays over software. The split between tech strength and consumer caution highlights market uncertainty ahead of critical Fed commentary.

Trading Sentiment: AI sentiment score of 58/100 (Bullish) reflects cautious optimism anchored by tech sector resilience.