Nasdaq futures indicated a positive opening on Wednesday, following the previous day’s achievement of new all-time highs for both the S&P 500 and the Dow Jones Industrial Average, despite declines in shares of SpaceX and Advanced Micro Devices. S&P 500, Dow, and Nasdaq 100 futures experienced increases of 0.4%, 0.4%, and 0.2%, respectively, in recent trading sessions. Yesterday, the tech-focused Nasdaq Composite, benchmark S&P 500, and blue-chip Dow experienced notable increases of 2.6%, 1.8%, and 1.7%, respectively. This surge was driven by significant gains in shares of Palantir Technologies and Caterpillar, alongside a decline in oil prices, fuelled by optimism surrounding a potential U.S.-Iran agreement to reopen the Strait of Hormuz. The Dow increased by over 900 points, achieving its second closing high of the week.

Shares of SpaceX retreated 12% in premarket trading as investors digested the Elon Musk-led company’s first results as a public company. AMD stock dropped 7.5% even though the chipmaker’s results topped analysts’ estimates. In other post-earnings moves, Shopify soared 26%; Arista Networks jumped 12%; Booking Holdings advanced 8%; Eli Lilly rose 5%; Walt Disney gained 3.5%; CVS Health added 3.5%; Pinterest sank 9%; and Uber Technologies declined 3%. Shares of software firm Palantir Technologies slipped 1% after soaring nearly 30% Tuesday to lead the S&P 500 and Nasdaq. The Roundhill Memory ETF and broader iShares Semiconductor ETF pointed down 2.5% and 1%, respectively, after jumping nearly 7.5% and 7% yesterday. Shares of Sandisk and Western Digital pulled back a respective 1% and 0.5% ahead of their results after the bell after advancing 11% and 4% Tuesday.

All of the Magnificent Seven mega-cap tech firms except the Musk-led Tesla pointed higher before the bell. Nvidia, the world’s most valuable public company, led premarket gains at 2% after pacing the septet’s advances yesterday. Oil prices, which had experienced a significant decline over the past two days due to optimism surrounding a potential Middle East peace agreement, saw a modest increase on Wednesday following claims by Iran-backed Houthis that they had targeted a Saudi Arabian tanker in the Red Sea. U.S. benchmark West Texas Intermediate futures increased by 0.5% to $76.20 a barrel, whereas global benchmark Brent crude futures rose by 1.4% to $80.50.

The 10-year Treasury yield, a critical benchmark affecting interest rates across various consumer loans such as mortgages, stood at approximately 4.61%, reflecting a decrease of one basis point from the previous day’s close. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, declined slightly to 99.74. Bitcoin was trading around 64,100, down slightly over the past 24 hours. Gold futures increased by 2% to $4,235 per ounce.