United States (US) stocks showed stability in futures trading on Wednesday following a sharp rise led by technology the previous day.
On Tuesday, the major indexes surged, with the S&P 500 up 0.97%, the Nasdaq up 1.45%, and the Dow up 0.3%.
Leading this upward trend are the technology, communication services and non-essential goods sectors.
Big 'Magnificient 7' names such as Nvidia saw a remarkable 4.1% gain, with Apple and Meta Platforms also posting strong performances, up 1.8% and 1.4% respectively.
However, not all sectors posted gains. Energy and materials stocks fell, with Exxon Mobil down 2.7%, Chevron down 1.6%, and Southern Copper down 3.8%.
The market's reaction to last week's strong jobs report fueled confidence that the Federal Reserve (Fed) may be able to control inflation.
Additionally, the sharp drop in oil prices weighed on investor sentiment, although the 10-year US Treasury yield remained above 4%.
Despite these positive developments, investors are bracing for potential volatility ahead of the US presidential election.
Investors are now eagerly awaiting the release of the minutes of the Federal Reserve meeting last September, the latest US inflation report and upcoming earnings reports from major banks.
