U.S. Equity Futures Climb Higher on Tech Strength
U.S. equity futures extended their gains on Wednesday, led by tech stocks amid continued momentum from policy announcements and tariff hints by President Donald Trump.
Tech Stocks Lead Advance
Tech stocks are poised for early gains following the unveiling of "Stargate," a new AI joint venture backed by SoftBank, Oracle, and OpenAI with an initial investment of $100 billion. Nvidia, Oracle, and Palantir are among the most actively traded stocks premarket, with Intel, Broadcom, and AMD also posting solid gains.
Netflix Soars on Earnings
Netflix shares jumped 14.22% premarket, indicating an opening price of $993.34. The surge follows a better-than-expected fourth-quarter earnings report with record revenues and subscriber additions.
Indices Jump
Nasdaq futures suggest an 185-point gain at the open, while the S&P 500 is called 27 points higher. The Dow Jones Industrial Average is expected to open 75 points above yesterday's closing high.
Bond Market Moves
10-year Treasury note yields remained stable at 4.568% ahead of a $13 billion bond auction later in the session.
Dollar Dips, Overseas Markets Rise
The U.S. dollar index declined 0.26% following Trump's mention of a smaller-than-expected 10% tariff on Chinese goods.
In European markets, the Stoxx 600 neared an all-time intraday high, while the FTSE 100 gained 0.34%. In Asia, SoftBank's strong performance from the "Stargate" venture contributed to a 1.58% surge in the Nikkei 225.