Stock Market Today: Dow, S&P 500, Nasdaq Set to Open Up; Federal Reserve Rate Cut Odds Rise; Bitcoin Price Jumps in Cryptocurrency Trading; Marvell, GitLab, Okta, Pure Storage, Nvidia, Tesla and More Movers

Stock futures were rising on Wednesday, as investors carried on snapping up Bitcoin and other risk-on assets following a recent wobble.

Futures tracking the Dow Jones Industrial Average climbed 95 points, or 0.2%. S&P 500 futures rose 0.2% and contracts tied to the tech-heavy Nasdaq 100 advanced 0.1%.

Bitcoin, the largest cryptocurrency by total market capitalization, surged 7.4% over the past 24 hours to $92,893. The digital asset tends to be a leading indicator for how bullish Wall Street is feeling about the broader market. Both stocks and cryptos moved higher on Tuesday, having started the week–and the month–in the red.

Risk assets face tests on Wednesday, with the ADP’s private payrolls report and the Institute for Supply Management’s Services PMI figures both having the potential to move markets. Earnings from retailers Macy’s and Dollar Tree could give investors a sense of how consumer spending is holding up.

“Markets by and large struck a much steadier tone as we moved through [Tuesday],” Michael Brown, strategist at brokerage Pepperstone, said. “Still, it does feel as if most participants are in ‘wait and see’ mode for the time being, if they have even returned to their desks at all post-Thanksgiving.”

The yield on the 10-year Treasury note slid 2 basis points to 4.08%. The dollar was down 0.3% against a weighted basket of its peers, and gold futures climbed 0.4% to $4,237 an ounce.

West Texas Intermediate oil prices were 0.6% higher at $58.99 a barrel, as investors bet that ongoing talks between Russia and the U.S. wouldn’t result in a peace deal that would end the war in Ukraine.