After Wednesday’s tech-led rebound amid the Federal Reserve’s rate decision, the stock market could be in for further gains. The major index futures point to a higher opening, although suggesting a slowdown in the upward momentum is in the cards. Despite Federal Reserve Chair Jerome Powell’s non-committal stance, the market has begun discounting a September rate cut. This is evident from the extended pullback in bond yields and the rally in dollar-denominated commodities. The imminent release of the July non-farm payrolls report could introduce some caution. The market could receive support from positive reactions to Meta Platforms, Inc.‘s (NASDAQ:META) earnings even as it may choose to remain on “wait-and-watch” mode ahead of another batch of mega-cap tech earnings from the likes of Amazon, Inc. (NASDAQ:AMZN), Apple, Inc. (NASDAQ:AAPL) and Intel Corp. (NASDAQ:INTC). Futures Performance (+/-) Nasdaq 100 +0.34% S&P 500 +0.33% Dow +0.15% R2K -0.35% In premarket trading on Thursday, the SPDR S&P 500 ETF Trust (NYSE:SPY) moved up 0.31% to $547.16, and the Invesco QQQ ETF (NASDAQ:QQQ) rose 0.48% to $473.35, according to Benzinga Pro data. Cues From Last Session: U.S. stocks closed Wednesday’s session higher, with the S&P 500 and the Nasdaq Composite rising solidly amid positive reaction to tech earnings. The Dow Jones Industrials Averages saw some moments of anxiety but stayed mostly in the green before closing modestly higher. All three averages experienced some degree of volatility amid the Fed decision, rising sharply following the release of the post-meeting policy statement. They gave back much of these gains after Powell’s presser and yet closed firmly in the green. As expected, the central bank used the July meeting to prepare the markets for a September rate cut, said Jeffrey Roach, chief economist at LPL Financial. The rate-setting committee noted a slowdown in the labor market and said Inflation continued to move into better balance. Weighing in on Powell’s press conference,  Chris Zaccarelli, Chief Investment Officer at Independent Advisor Alliance, said the chairman tried to strike a neutral tone. Powell explained “why today was too soon to cut rates, but ...