US equity futures climbed after the S&P 500 hit a record high, setting the stage for the Fed's upcoming rate decision. Investors welcomed the rally, noting that the market cap surge marks the busiest earnings day yet, with Meta, Microsoft, and Tesla slated to report today on Friday market.

Meanwhile, the Dollar steadied after its steepest drop since April, as former President Trump dismissed worries about a weaker greenback. The move eased currency volatility, but analysts warn that any Fed tightening could still pressure the currency in the coming months for investors and market participants in the near future.

Amazon announced a workforce cut of roughly 16,000 employees, a blow that could reshape its logistics and cloud operations. Citi's Andrew Hollenhorst projects that the Fed may keep rates steady this year, but warns that a shift could trigger a broader market reassessment of growth prospects for investors and analysts.