Nasdaq futures indicated a predominantly positive opening on Wednesday, following a decline in major indexes the previous day, attributed to a sell-off in technology shares. Meanwhile, gold and silver futures have resumed their upward trajectory following a pullback from recent peaks. Futures for the Dow Jones Industrial Average and S&P 500 experienced increases of 0.3% and 0.2%, respectively, whereas Nasdaq 100 futures saw a slight decline. Yesterday, the tech-heavy Nasdaq and benchmark S&P 500 recorded declines of 1.4% and 0.8%, respectively, while the blue-chip Dow concluded the day down 0.3% after reaching a new all-time high earlier in the session.
On Tuesday, all of the Magnificent Seven stocks experienced declines as investors shifted their focus away from technology firms. They pointed mostly higher before the bell Wednesday, with shares of Google parent Alphabet up 1% ahead of its quarterly results after the close and those of Amazon, which reports earnings tomorrow afternoon, up 0.3%. Shares of Advanced Micro Devices sank 9% in premarket trading despite reporting better-than-expected quarterly results and guidance. In other post-earnings moves, shares of Enphase Energy soared 24%, Super Micro Computer jumped 13%, Eli Lilly surged 7%, Match Group advanced 7%, Take-Two Interactive Software rose 4%, Uber Technologies sank 8%, and Chipotle Mexican Grill was down 6%. AbbVie was also set to report earnings before the bell, while Qualcomm was slated to do so after markets close.
Shares of Silicon Laboratories surged 25% following the acquisition by Texas Instruments, a fellow semiconductor firm, in an all-cash transaction valued at approximately $7.5 billion. Texas Instruments experienced a 3% decrease in its share price. Gold futures increased by 3% to $5,080 per ounce, while silver futures experienced a significant rise of 8%, approaching $90 per ounce. The precious metals experienced a notable rebound yesterday as traders secured profits after their significant increases to approximately $5,625 and $121.75 per ounce last Thursday. The yield on the 10-year Treasury, which influences interest rates across a range of consumer loans such as mortgages, increased to approximately 4.28% from Tuesday’s closing figure of just under 4.27%. West Texas Intermediate crude futures, the U.S. benchmark, increased by 0.4% to $63.50 per barrel.
Bitcoin experienced a brief decline to approximately $72,900—its lowest point since November 2024—on Tuesday, and was marginally lower for the day at around $76,000. The U.S. dollar index, which monitors the value of the greenback relative to a selection of global currencies, exhibited minimal movement at 97.47, yet continues to hover close to four-year lows.