Small gains
US stock futures showed small but steady gains on Wednesday. The Dow rose 80 points to 47,624. The S&P 500 moved up to 6,849.50, and the Nasdaq reached 25,631.50. These gains follow a mild rebound in the previous session. Traders are focused on the ADP private payrolls report, which is due this morning. This report matters more than usual because official labor data is delayed due to the recent government shutdown. The Federal Reserve meets on December 10, and markets expect a rate cut. Current estimates show about a 90% chance of a reduction. There is also political attention on who might replace Federal Reserve Chair Jerome Powell when his term ends in 2026. President Donald Trump is reviewing candidates, and Kevin Hassett, head of the National Economic Council, is seen as the top option.
Tech and retail stocks
Technology stocks helped lift the market. Marvell Technology jumped nearly 10% after it reported stronger results than expected. NVIDIA also saw a small gain, adding to Tuesday’s rise. Retailer American Eagle Outfitters gained 11% in early trade. The company said it had a strong Thanksgiving weekend, with high demand for its Aerie and Offline brands. It earned $0.53 per share in the third quarter, topping forecasts. Revenue was $1.36 billion, up 6% from last year. The company expects same-store sales to grow 8 to 9% in the fourth quarter. Other major retailers, including Salesforce, Macy’s, and Dollar Tree, are set to report results later today.
Small-cap and crypto-linked stocks
Several small-cap stocks saw sharp early gains. Powell Max Limited rose more than 67%, while Creative Media & Community Trust climbed over 30%. Crypto-related stocks also moved higher. American Bitcoin Corp, Bitfarms, and IREN all posted gains as Bitcoin recovered. EV maker NIO slipped slightly, while Rezolve AI stayed flat in early trade.
Bitcoin rises
Bitcoin reached almost $94,000, its highest level in two weeks, before easing slightly. The move comes after a major drop in crypto markets since October. Still, investor sentiment remains cautious. Silver hit a new record at more than $58.90 an ounce. Traders expect tighter supplies and lower borrowing costs in the coming months. Silver-backed exchange-traded funds added about 200 tons on Tuesday, the highest in more than two years. Gold also moved higher.
Anthropic
AI company Anthropic has started early work on a potential 2026 initial public offering. It has hired Silicon Valley law firm Wilson Sonsini to guide the process. Anthropic, supported by Amazon and Alphabet, is known for its AI model Claude. The company says it has not made a final decision but is speaking with investment banks as it studies its options.
