See-sawing mood persists on Wall Street as the index futures point to a marginally lower start on Wednesday after the tech-led rebound witnessed in the previous session. Nvidia Corp. (NASDAQ:NVDA) is advancing in premarket and the rest of the big techs were just about higher. Commodities are weakening and bond yields are easing. Federal Reserve’s September rate-setting meeting minutes, speeches by Fed officials and developments around Hurricane Milton’s landfall in Florida could be on traders’ radar.
Some may choose to move to the sidelines ahead of Thursday’s consumer price inflation report which is expected to show a further easing in pricing pressure. Some key earnings reports are also expected to drop over the next two sessions, which is likely to give early indications regarding how this reporting season will pan out.
Futures
Performance (+/-)
Nasdaq 100
-0.08%
S&P 500
-0.06%
Dow
-0.07%
R2K
-0.13%
In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged down 0.04% to $572.93 and the Invesco QQQ ETF (NASDAQ:QQQ) moved down 0.209% to $488.85, according to Benzinga Pro data.
Cues From Last Session:
IT, communication services and consumer discretionary stocks fueled a strong rally on Wall Street on Tuesday even as energy stocks served as drags. The gains came despite the threat of Hurricane Milton looming large. Nvidia Corp. (NASDAQ:NVDA) rose over 4% after contracts electronics manufacturer Hon Hai Precision Manufacturing Co. Ltd. (OTC:HNHPF) issued positive commentary about the demand for the former’s Blackwell GB200 chips. The positive sentiment rubbed off on other AI-levered tech stocks as well.
The Nasdaq Composite and the S&P 500 hovered in positive territory throughout ...
