Nasdaq Futures Surge on Trump's AI Boost, Countering Tariff Concerns
The tech-heavy Nasdaq led US stock futures higher on Wednesday, buoyed by President Trump's initiatives to advance artificial intelligence (AI) and strong earnings reports.
AI Push Fuels Tech Rally
Trump's plan to invest $500 billion in AI and roll back Biden-era safety measures spurred optimism in the tech sector. Shares of Oracle, a partner in Trump's "Stargate" AI venture, surged 9% pre-market. SoftBank, a Japanese technology conglomerate, jumped 10%.
Netflix Soars on Record Subscriber Growth
Netflix reported record subscriber additions and beat earnings and revenue estimates, sending its stock soaring 15% in early trading.
Tariff Threats Temper Sentiment
Despite the positive sentiment, concerns about a potential trade war persist. Trump threatened to impose a 10% duty on China imports on February 1st, sparking a decline in Chinese stocks.
Earnings Season Continues
Corporate earnings continue to roll in. Johnson & Johnson and Procter & Gamble both reported strong quarterly results, boosting their stock prices.
Commodities Mixed
Oil prices rose, while gold held gains but eased from intraday highs.
Outlook
US stock futures remain buoyant, with investors monitoring earnings reports and navigating trade uncertainty. The Nasdaq 100 is poised for a 0.8% jump, while S&P 500 futures are up 0.4%. Dow Jones Industrial Average futures are slightly higher, extending Tuesday's rally.