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Wall Street On Pins And Needles As Market Braces For Fed's Decision: Analyst Says Size And Speed Of Rate Cuts Will 'Frustrate Investors'

The market appears poised for further gains on Wednesday, building on the strength of the S&P 500 and Nasdaq Composite, which hit record highs in the previous session. Index futures are trading modestly higher in early pre-market trading. However, the sustainability of these gains and potential for further upside hinges largely on two key events: the upcoming inflation report due before the market opens and the Federal Reserve‘s June rate decision, along with commentary regarding the near-term interest rate trajectory. Investors will be hanging on to every word from Fed Chair Jerome Powell when he hosts the post-meeting press conference shortly after the rate decision. Positive sentiment generated by Oracle Corp.’s (NYSE:ORCL) earnings may also provide support for tech stocks. While bond yields remained subdued, commodities prices firmed up. Futures Performance (+/-) Nasdaq 100 +0.13% S&P 500 +0.14% Dow +0.13% R2K +0.08% In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.14% to $537.72, and the Invesco QQQ ETF (NASDAQ:QQQ) traded up 0.14% at $468.66, according to Benzinga Pro data. Cues From Previous Session: Stocks closed Tuesday’s session on a mixed note as tech strength mitigated jitters about the Fed’s rate decision. Apple, Inc. (NASDAQ:AAPL) led the tech charge, in apparently a late reaction to ...