- Dow Jones futures rose 0.45% and S&P 500 futures gained 0.21%, while Nasdaq 100 futures slipped 0.03% as semiconductor stocks remained under pressure.
- Investors awaited September US inflation figures, with economists forecasting annual CPI growth of 3.6% and markets pricing in a 22% probability of a Federal Reserve rate increase.
- Brent crude remained above $100 a barrel amid tensions in the Strait of Hormuz, while Bank of America shares declined following disclosure of a $1.21 bn regulatory fine.
US stock index futures traded mostly higher on Wednesday as artificial intelligence-related shares stabilized following a recent selloff, although elevated oil prices and uncertainty over the Federal Reserve’s interest-rate outlook limited gains ahead of September inflation data and quarterly bank earnings.
At 5:41 a.m. ET, Dow Jones Industrial Average E-mini futures had gained 234 points, or 0.45%, while S&P 500 E-mini futures advanced 16.25 points, or 0.21%. Nasdaq 100 E-mini futures slipped 9 points, or 0.03%, reflecting continued caution toward technology stocks.
Investors were preparing for another round of quarterly results from major US financial institutions following mixed earnings reports from Wall Street lenders in the previous session.
Bank of America, Morgan Stanley, BlackRock and State Street were scheduled to release their financial results before the opening bell.
Bank of America shares declined 1.5% in premarket trading after the lender disclosed a $1.21 bn regulatory fine that could affect its third-quarter performance. Morgan Stanley shares gained 0.7% ahead of its earnings announcement.
Semiconductor stocks showed mixed performance after a sharp decline earlier in the week. The selloff followed reports of advances in chip design by China’s CXMT, raising concerns about intensifying competition in the semiconductor industry.
Intel shares fell 1.1%, while Micron Technology declined 1.3%. Nvidia, a major supplier of processors used in artificial intelligence applications, gained 0.2%.
The broader group of technology companies known as the “Magnificent Seven” posted modest gains in premarket trading. Alphabet advanced 0.7%, while Meta Platforms and Amazon.com recorded smaller increases.
Market attention was also focused on the September US consumer price index report, which investors expected to provide further evidence about inflation trends and the Federal Reserve’s next interest-rate decision.
Economists surveyed by Reuters forecast that headline consumer inflation accelerated to an annual rate of 3.6% in September. Core CPI, which excludes food and energy prices, was expected to increase 0.2% from the previous month.
Ahead of the inflation release, interest-rate futures indicated that investors assigned approximately a 22% probability to a 25-basis-point Federal Reserve rate increase at the following week’s policy meeting, according to the CME FedWatch Tool.
New York Federal Reserve President John Williams said the central bank might need to raise its benchmark interest rate once more in 2026 to contain inflation. He did not anticipate additional increases in 2027.
Investors were also awaiting remarks from Richmond Fed President Tom Barkin and the publication of the Federal Reserve’s Beige Book, which provides information about economic conditions across the central bank’s regional districts.
Energy markets added another source of uncertainty for equities. Brent crude futures edged higher and remained above $100 a barrel following reports that two vessels had been struck in the Strait of Hormuz.
Among individual stocks, pharmaceutical company Liquidia surged 49.9% in premarket trading after announcing a settlement with United Therapeutics covering all six outstanding lawsuits between the companies.
Liquidia said the agreement would ensure uninterrupted access to Yutrepia, a treatment for patients with a form of pulmonary hypertension.
The sharp increase in Liquidia shares contrasted with the more restrained moves across major stock index futures, where investors remained focused on inflation figures, corporate earnings and developments in energy markets.
