Western Digital Shares Jump up to 4.8% Ahead of Fed Rate Decision
WDC•Western Digital shares rose between 2.9% and 4.8% in premarket trading as memory chip stocks led tech gains ahead of Federal Reserve Chair Kevin Warsh’s first interest rate decision, with benchmarks mixed: Nasdaq 100 futures gained 0.02% while S&P 500 futures dipped 0.08%. Investors expect rates to remain at 3.50-3.75%.
1. Premarket Memory Chip Rally
Western Digital led gains in memory chip stocks, with shares up between 2.9% and 4.8% in premarket trading as the tech sector outperformed ahead of key policy events. Nasdaq 100 futures rose 0.02% while S&P 500 futures dipped 0.08%.
2. Fed’s First Rate Decision Under Warsh
Investors anticipate the Federal Reserve will maintain rates at 3.50-3.75% in Chair Kevin Warsh’s inaugural decision, focusing on his outlook for inflation and unemployment to gauge future monetary policy tightening or easing.
3. Market Sentiment and Macroeconomic Drivers
The Dow closed at record highs after oil prices plunged on a preliminary U.S.-Iran conflict agreement, while traders assign a 42% probability to a December 25-basis-point rate increase and expect cuts only after mid-2027.
