Dow futures remain near the flatline, as attention turns to remarks from Federal Reserve Chair Jerome Powell and the earnings report from semiconductor company Micron. Powell presents an ambiguous perspective on the future direction of interest rates, with the forecast obscured by weak employment figures and persistently high inflation. Micron’s forecast for the current quarter exceeds expectations, propelled by robust demand for its memory chips from developers in the artificial intelligence sector.

Dow futures exhibited a lackluster performance on Wednesday, as investors processed Powell’s remarks and evaluated the ramifications of earnings reported by chipmaker Micron. As of 03:38, the Dow futures contract and S&P 500 futures exhibited minimal movement, whereas Nasdaq 100 futures experienced an increase of 21 points, translating to a rise of 0.1%. The principal indices experienced a decline in the previous session, interrupting a three-session sequence of record high closures. Shares in the artificial intelligence leader Nvidia experienced a decline, exerting downward pressure on the tech-centric Nasdaq Composite index specifically. The stock experienced a pullback on Monday following its announcement of a $100 billion investment in ChatGPT-maker OpenAI. Meanwhile, Boeing experienced an uptick following the announcement of a $8 billion order from Uzbekistan Airways.

However, the focal point on Tuesday centered on Powell’s remarks, which followed closely after the Fed reduced interest rates by 25 basis points and indicated that further cuts might be on the horizon. Powell maintained a noncommittal stance regarding the future path of interest rates, emphasizing the necessity for the Fed to navigate the dual challenges of a decelerating labor market and persistent inflationary pressures. In principle, reducing interest rates may stimulate investment and employment, though it carries the potential risk of increasing inflationary pressures. Powell acknowledged the absence of a “risk-free” choice for policymakers, while markets are speculating on possible rate reductions during the Fed’s final meetings of the year in October and December. Nonetheless, indications are surfacing that central bank officials are poised to engage in vigorous discussions at these meetings. On Tuesday, various members of the Federal Reserve issued statements that supported opposing views within the policy debate.

Micron’s shares experienced an uptick in premarket U.S. trading following the memory chip manufacturer’s announcement of another quarter of growth, driven by heightened demand from AI developers. Micron’s recent performance was bolstered by an unexpectedly robust demand for its DRAM and NAND products, as noted by Sanjay Mehrotra. Idaho-based Micron has indicated that it anticipates the midpoint of adjusted profit per share for the current quarter to be $3.75, with projected revenue estimated at $12.5 billion, subject to a variance of $300 million. Analysts anticipated a projection of $3.10 in adjusted income per share alongside $11.91 billion in revenue. Mehrotra indicated that supply is “tight,” whereas the demand landscape for DRAM – or dynamic random access memory — processors is expected to be “healthy” in the upcoming year. To enhance supply levels, Micron has announced its intention to increase investments in the U.S. semiconductor sector to $200 billion. Current-quarter spending is projected to total $4.5 billion. During the quarter ending in August, the cloud memory business experienced a threefold increase in sales, reaching $4.5 billion, which contributed to a 46% rise in overall revenue to $11.32 billion, surpassing expectations.

Hong Kong-listed shares of Alibaba Group surged by over 8% following the company’s announcement of its most advanced AI model to date, alongside a commitment to enhance investment in the infrastructure supporting this emerging technology. During its annual conference, Alibaba introduced Qwen3-Max, a language model boasting over 1 trillion parameters, which the company claims is particularly proficient in code generation and autonomous agent functions. CEO Eddie Wu reiterated that Alibaba would increase its previously announced investment of 380 billion yuan in AI infrastructure over the next three years, but did not commit to a new figure. Among the newly unveiled products was Qwen3-Omni, a multimodal system tailored for immersive experiences, including virtual reality and intelligent car cockpits. This development highlights Alibaba’s aspiration to broaden the scope of AI beyond traditional chatbots.

Gold prices stabilized, hovering near recent record peaks as remarks from Powell instigated increased apprehension regarding growth, inflation, and interest rates. Expectations for additional rate reductions by the Fed prior to the conclusion of 2025 have recently supported the price of the yellow metal, as diminished rates enhance the appeal of non-yielding assets like metals. Investors were monitoring forthcoming economic data this week, which may offer additional insights into the condition of inflation and overall economic activity. The rise in geopolitical uncertainty has further enhanced bullion’s status as a safe-haven asset. Spot gold increased by 0.3% to $3,775.56 per ounce, whereas gold futures decreased by 0.2% to $3,807.92 per ounce as of 03:29.