Stock market news today: S&P 500 futures jump as techs rebound in countdown to Fed

US stock futures rallied on Wednesday amid a tech revival that sent the Nasdaq surging, as investors got ready to find out the Federal Reserve's decision on whether to cut interest rates. S&P 500 futures climbed 0.9%, while Nasdaq 100 futures jumped 1.5% after the tech-heavy index closed sharply lower. Dow Jones Industrial Average futures moved up 0.1%. Tech stocks are in the ascendant again after taking a battering in recent days.

Elsewhere, Dutch chip gear giant ASML's stock surged after Reuters reported the US will exempt some foreign allies from new China curbs. As that pressure eases, the spotlight is turning to the Fed, which is expected to hold interest rates steady but signal a cut is in the pipeline when it ends its July policy meeting later Wednesday.

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