Our top 10 things to watch in the stock market Wednesday

Microsoft's upgrade by an analyst is a notable development, as the tech giant's performance can have a ripple effect on the broader market. The upgrade could be seen as a vote of confidence in Microsoft's ability to continue growing its cloud computing business, which has been a key driver of its stock price. This may also have implications for the US dollar, as a strong tech sector can support a bullish view on the currency.

Meta Connect, a major event for the social media giant, is also taking center stage today. While the event is primarily focused on Meta's product roadmap, investors will be watching for any updates on the company's e-commerce and payments initiatives. A successful event could boost Meta's stock price, which in turn could have implications for the broader tech sector and the US dollar. The dollar's strength or weakness can have a significant impact on currency markets, particularly against other major currencies like the euro and yen.

Looking ahead, investors will be watching to see if Microsoft's upgrade and Meta Connect can help to sustain the recent rally in tech stocks. The US dollar's performance will also be closely watched, particularly in light of recent economic data releases. The dollar index has been trading in a narrow range, and a breakout in either direction could have significant implications for currency markets. Investors will also be keeping an eye on any developments related to US monetary policy, as the Federal Reserve's next meeting approaches.

Originally reported by cnbc.com. CurrencyNews adds analysis for finance & markets readers.