Tech Titans Boost Market Amid Fed Sell-Off

Dow Jones futures rose slightly early Thursday, while S&P 500 futures advanced modestly and Nasdaq futures jumped. The stock market rally attempt suffered a nasty downside reversal Wednesday following the Fed meeting and comments by Treasury Secretary Janet Yellen. Bank stocks struggled, notably First Republic Bancorp (FRC) and PacWest Bancorp (PACW). The market rally attempt has relied heavily on six megacaps: Apple stock, Microsoft (MSFT), Google parent Alphabet (GOOGL), Tesla (TSLA), Meta Platforms (META) and Nvidia (NVDA). The SEC issued a Wells notice to Coinbase (COIN), a formal warning to the cryptocurrency exchange that the regulator may take "enforcement actions" for potential violations of securities laws.