U.S. stock futures edged higher on Wednesday, with markets awaiting a key vote in the House of Representatives to end the government shutdown that has stretched beyond 40 days. Republican lawmakers, who control the chamber, expressed confidence that the funding bill will pass after receiving Senate approval earlier this week.
If the measure succeeds, it would mark the end of the longest federal shutdown in U.S. history, allowing a flood of delayed economic reports to finally reach the Federal Reserve — whose officials are reportedly split on the future path of interest rates. Meanwhile, tech investors are also eyeing results from Cisco Systems (NASDAQ:CSCO), as concerns grow over heavy spending tied to the artificial intelligence boom.
Futures edge higher
By 02:39 ET, Dow futures were up 78 points, or 0.2%, while S&P 500 futures added 25 points, or 0.4%. Nasdaq 100 futures gained 170 points, or 0.7%.
Wall Street closed mixed on Tuesday after a cautious session. A revenue guidance cut from cloud services provider CoreWeave dented enthusiasm around the AI rally, and jobless claims data from ADP pointed to softer labor market conditions.
Still, some analysts see underlying resilience. Experts at Vital Knowledge noted that traders appear determined to “stay invested” ahead of a potential year-end rally.
House expected to vote on bill to end shutdown
Lawmakers are set to vote on a bipartisan deal to reopen the government and fund most federal agencies through January 30. Optimism grew earlier this week when the Senate passed the measure with the support of eight Democrats, breaking the impasse between their party and President Donald Trump’s Republicans.
Should the GOP-controlled House approve the legislation as expected, Trump is likely to sign it into law. The reopening would also mean the release of several delayed economic indicators — including the monthly jobs report — which investors and Fed officials rely on to gauge the health of the U.S. economy.
Fed remains divided on next move
According to The Wall Street Journal, Federal Reserve policymakers remain split ahead of December’s policy meeting on whether to cut interest rates again after two consecutive 25-basis-point reductions in September and October.
At the center of the debate are the Fed’s twin mandates: employment and inflation. Some officials argue that faster rate cuts are needed to boost hiring and investment, while others warn that such moves could reignite inflationary pressures. With limited fresh data due to the shutdown, consensus within the central bank has been difficult to reach, the WSJ reported.
Cisco earnings on deck
Investors are watching Cisco Systems closely ahead of its quarterly earnings report due after Wednesday’s market close. The networking giant has benefited from surging demand for AI-related infrastructure, with CEO Chuck Robbins noting in August that AI infrastructure orders “had surpassed $800 million in Cisco’s fiscal fourth quarter,” pushing the full-year total “to more than $2 billion.”
Robbins also said the “sovereign AI opportunity” is expected to build momentum in the second half of fiscal 2026, positioning Cisco as a “core system provider for these significant AI training and inference cluster build outs […] integral to their development and eventual hyperscaling.”
According to Bloomberg consensus estimates, the company is projected to report adjusted earnings per share of $0.98 on revenue of $14.77 billion.
Chevron’s Investor Day to highlight growth plans
Chevron (NYSE:CVX) is also in focus as it hosts an investor day in New York. The event will outline CEO Mike Wirth’s next phase of growth following the company’s $55 billion acquisition of Hess earlier this year — one of the largest oil deals in decades.
The acquisition includes Hess’s 30% stake in a consortium with Exxon and CNOOC, which has discovered more than 11 billion barrels of oil in Guyana’s Stabroek offshore block. Analysts estimate total recoverable resources could reach roughly 20 billion barrels, a critical asset for Chevron as it looks to rebuild reserves that hit multi-year lows in 2024.
“We continue to believe Chevron paid a full price for Hess,” analysts at Wolfe Research said in a note. They added that “addressing this and a relatively mature shale portfolio in acquired assets will be key issues at the upcoming Investor Day.”
Wolfe also pointed out that investors will likely seek clarity on Chevron’s operations in Kazakhstan, which are expected to account for about 18% of free cash flow in 2025 and roughly 20% between 2026 and 2030.