(Editor’s note: The future prices of benchmark tracking ETFs, and the headline, the lede and the economic were updated in the story.)
U.S. stock futures rose on Wednesday, after Tuesday’s record close. This followed President Donald Trump‘s announcement of a temporary pause in a military-backed operation called ‘Project Freedom.’
This project was designed to escort commercial ships through the Strait of Hormuz. Trump said on Truth Social that while the U.S. operation would be paused temporarily to allow negotiations to continue, America’s blockade would remain firmly in place.
In the labor market, private sector employment showed renewed momentum by adding 109,000 jobs in April. This acceleration was fueled by continued strength in health care alongside a rebound in the trade, transportation, and utilities sectors, marking the fastest pace of job growth since January 2025.
Meanwhile, the 10-year Treasury bond yielded 4.37%, and the two-year bond was at 3.89%. The CME Group’s FedWatch tool‘s projections show markets pricing a 94.1% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.
| Index | Performance (+/-) |
| Dow Jones | 0.66% |
| S&P 500 | 0.59% |
| Nasdaq 100 | 1.09% |
| Russell 2000 | 0.81% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Wednesday. The SPY was up 0.75% at $729.20, while the QQQ advanced 1.21% to $689.78.
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