US OPEN: The market awaits the Fed and Google’s earnings.

Futures on US stock indices start Wednesday’s trading in moderately positive sentiment. The tech-heavy US100 is leading up with moderate gains, up 0.4%, while the US500 adds only 0.2% and the US30 remains near yesterday’s close. The main driver of the moves higher remains technology companies and AI infrastructure producers, supported by very strong results from South Korea’s SK Hynix.

• The HBM memory maker reported that its AI-related production capacity is sold out through 2029. This statement strengthens expectations that investment demand for computing infrastructure will remain high in the coming years.
• Optimism in the sector is further supported by reports that OpenAI plans to buy TPU processors from Google. Positive sentiment is also spilling over to US semiconductor and memory makers.
• Despite gains in the tech sector, investors remain cautious ahead of the Federal Reserve’s decision this evening. The futures market prices the probability…