U.S. stock index futures edged lower on Wednesday evening after the Federal Reserve kept interest rates unchanged but warned of rising risks from inflation and economic uncertainty. The move followed modest gains on Wall Street, fueled by a rebound in chip stocks amid signs the Trump administration may ease export restrictions on artificial intelligence chips.
At 19:50 ET (23:50 GMT), S&P 500 futures fell 0.1% to 5,645.75, Nasdaq 100 futures dropped 0.1% to 19,948.75, and Dow Jones futures slipped 0.1% to 41,168.0.
Fed Chair Jerome Powell cited growing concerns over inflation and unemployment, stating the outlook remains unclear due to uncertainty surrounding Trump’s trade tariffs. The Fed is expected to keep a cautious stance, with Powell ruling out any preemptive rate cuts despite pressure from Trump for lower borrowing costs.
Meanwhile, AI chipmakers led a late rally in U.S. stocks after reports indicated Trump may roll back Biden-era export controls on advanced chips. The move would benefit U.S. semiconductor firms by expanding their overseas sales opportunities. Nvidia (NASDAQ: NVDA) gained 3.1% during regular trading, while TSMC (NYSE: TSM) added 1.3% and Intel (NASDAQ: INTC) rose 1.9%.
Despite ongoing concerns about U.S.-China trade talks and the Fed's cautious tone, Wall Street closed higher. The S&P 500 rose 0.4% to 5,631.27, the Nasdaq Composite gained 0.3% to 17,738.16, and the Dow Jones added 0.7% to close at 41,113.97.
Alphabet (NASDAQ: GOOGL) lagged behind, pressured by reports that Apple (NASDAQ: AAPL) may integrate AI-powered search into its browser, posing new competition for Google’s core business.


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