US stock futures edge higher as markets wait for the Fed, meanwhile, tokenized futures keep moving faster than Wall Street

U.S. stock futures saw a slight uptick on Tuesday, as investors processed weak manufacturing data, rising expectations of a Fed rate cut, and new speculation surrounding who could replace Jerome Powell when his term ends.

At the open:
• Dow futures: +0.2%
• S&P 500 futures: +0.3%
• Nasdaq 100 futures: +0.4%

The mood is mixed.
Manufacturing activity contracted for the ninth consecutive month, signaling persistent pressure across the sector. At the same time, rate-cut bets keep rising futures now price in an 86% probability of a 25 bps cut at next week’s FOMC meeting.
Uncertainty is also building around potential candidates to take over the Fed chair position if Powell isn’t renewed.

Earnings remain light, with Marvell, MongoDB, Vestis, and Credo drawing attention after their latest results.

Meanwhile, tokenized markets continue to move at a very different speed.

While traditional markets pause and wait for the Fed, Bitget Stock Futures just surpassed $10 billion in trading volume. Bitget and other plateforme are already running large-scale tokenized stock futures, while the Nasdaq is still waiting on SEC approval before it can offer its own tokenized stock offerings.

I’m starting to think that the Fed’s decision next week might matter less for long-term structure than the shift we’re seeing toward tokenized market rails.

Source: [https://www.investing.com/news/stock-market-news/wall-st-futures-muted-as-traders-digest-weak-ism-data-fed-cut-bets-bitcoin-slide-4384983](https://www.investing.com/news/stock-market-news/wall-st-futures-muted-as-traders-digest-weak-ism-data-fed-cut-bets-bitcoin-slide-4384983)