U.S. stock index futures rose on Wednesday in anticipation of Federal Reserve interest rate cuts, with S&P 500 E-minis up 16 points, Nasdaq 100 E-minis up 11.75 points, and Dow E-minis up 149 points. Advanced Micro Devices dropped 5.9% due to disappointing revenue from data center, while Super Micro missed revenue estimates, causing shares to plunge.

Earnings reports from Disney, Uber, and McDonald’s are expected before the opening bell, with Airbnb, DoorDash, and Lyft to report after the market closes. Wall Street was affected by weak economic data and the U.S. trade war, with U.S. services activity stalling in July due to higher costs from new tariff rates.

The CME Group’s FedWatch tool shows an 85.5% chance of a September rate cut, up from 46.7% last week, with traders expecting at least two cuts by the end of 2025. President Trump announced plans for new tariffs on pharmaceutical imports, semiconductors, and chips, adding to market uncertainty.

Economies worldwide are working to negotiate favorable deals with the U.S., as Beijing’s trade truce is set to expire on August 12. Arista Networks saw a 13% jump after forecasting third-quarter revenue above analysts’ estimates.

Read more at Yahoo Finance: Wall St futures edge up amid Fed rate cut optimism; earnings in focus