U.S. stock futures were mixed on Wednesday, as the Dow Jones index rose, while the S&P 500 and Nasdaq 100 indices slipped, following Tuesday’s higher close.
Alongside Nvidia Corp.‘s (NASDAQ:NVDA) high-stakes second-quarter earnings report after the closing bell, investors are braced for a heavy slate of macroeconomic data before the open, including July durable goods orders, the second estimate for second-quarter GDP, and key consumer spending and PCE inflation metrics, all due before the opening bell.
Following renewed discussions between Iran and Oman regarding a joint temporary navigational corridor in the Strait of Hormuz—alongside President Donald Trump’s announcement that all mines in international waters were cleared despite recent tanker strikes near Oman—the U.S. has begun returning personnel to diplomatic posts in Lebanon, Israel, and Saudi Arabia.
Meanwhile, the 10-year Treasury bond yielded 4.64%, and the two-year bond was at 4.19%. The CME Group’s FedWatch tool projections show markets pricing a 36.1% likelihood of the Federal Reserve hiking the current interest rates during its September meeting.
| Index | Performance (+/-) |
| Dow Jones | 0.11% |
| S&P 500 | -0.04% |
| Nasdaq 100 | -0.15% |
| Russell 2000 | -0.01% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were lower in premarket on Wednesday. The SPY was down 0.037% at $765.63, while the QQQ declined by 0.13% to $709.83.
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Stocks In Focus
Zoom Communications
- Zoom Communications Inc. (NASDAQ:ZM) tumbled 5.20% despite reporting better-than-expected financial results for the second quarter but issuing a soft guidance for the third quarter.
- Benzinga’s Edge Stock Rankings indicate that ZM maintains a strong price trend in the short, long, and medium terms, with a moderate value score.
https://www.benzinga.com/quote/ZM
Intuit
- Intuit Inc. (NASDAQ:INTU) plunged 11.74% despite reporting upbeat fourth-quarter financial results but issuing FY27 guidance below estimates.
- Benzinga’s Edge Stock Rankings indicate that INTU maintains a weak price trend in the long term but strong trend in the short and medium terms, with a moderate growth score.
https://www.benzinga.com/quote/INTU
Semtech
- Semtech Corp. (NASDAQ:SMTC) was 3.91% higher after the company reported better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.
- Benzinga’s Edge Stock Rankings indicate that SMTC maintains a strong price trend in the long term but a weak trend in the short and medium terms, with a poor growth score.
https://www.benzinga.com/quote/SMTC
Datavault AI
- Datavault AI Inc. (NASDAQ:DVLT) jumped 4.75% after Nasdaq granted it an extension to regain compliance by Feb. 22, 2027.
- Benzinga’s Edge Stock Rankings indicate that DVLT maintains a weak price trend in the long, short, and medium terms.
https://www.benzinga.com/quote/DVLT
Nvidia
- NVIDIA Corp. (NASDAQ:NVDA) was 0.30% higher as Wall Street expects it to post quarterly earnings of $2.09 per share on revenue of $92.01 billion after the closing bell.
- Benzinga’s Edge Stock Rankings indicate that NVDA maintains a strong price trend in the short, long, and medium terms, with a solid quality score.
https://www.benzinga.com/quote/NVDA
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Cues From Last Session
Information technology, communication services, and materials stocks led the gains on Tuesday, while energy and consumer staples closed lower, as U.S. stocks settled higher with the Dow Jones gaining over 150 points for its third straight win amid falling Treasury yields.
| Index | Performance (+/-) | Value |
| Dow Jones | 0.30% | 53,577.40 |
| S&P 500 | 0.32% | 7,677.28 |
| Nasdaq Composite | 0.66% | 26,151.30 |
| Russell 2000 | 0.50% | 3,010.02 |
Insights From Analysts
LPL Financial expects strong corporate earnings growth to continue providing a solid foundation for the U.S. stock market. In their Weekly Market Commentary, Jeff Buchbinder, Chief Equity Strategist for LPL Financial, noted that an improving earnings outlook helps offset potential headwinds like interest rate volatility and geopolitical risks.
Highlighting this strong fundamental backdrop, he stated: “Improving and broadening earnings growth is likely to raise the floor for stocks, and the S&P 500’s recent technical breakout to new highs probably raises the ceiling.”
While the technology sector and artificial intelligence remain primary growth catalysts, LPL Financial emphasizes that earnings strength has widened across the broader market. From a macroeconomic perspective, LPL expects “resilient economic growth” alongside lower oil prices and ebbing inflation over time.
They project the 10-year Treasury yield will edge lower to the 4% to 4.5% range by year-end, which should help prevent interest rates from creating a larger headwind for equities.
Overall, LPL Financial maintains an optimistic stance on stocks, concluding that “a supportive fundamental backdrop raises the floor” for market performance through the remainder of the year.
Upcoming Economic Data
Here’s what investors will be keeping an eye on Wednesday.
- July’s durable goods orders, second estimate second-quarter GDP, July’s personal income, consumer spending, PCE price index, and core PCE price index data will all be released by 8:30 a.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude Oil WTI futures were trading lower in the early New York session by 2.61% to hover around $80.21 per barrel.
Gold Spot US Dollar fell 0.72% to hover around $4,625.39 per ounce. The U.S. Dollar Index spot was 0.01% higher at the 98.9230 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.50% higher at $78,979.57 per coin over the last 24 hours.
Asian markets were mixed on Wednesday, as Australia’s ASX 200, South Korea’s Kospi, and India’s Nifty 50 indices fell. Hong Kong’s Hang Seng, China’s CSI 300 and Japan’s Nikkei 225 indices rose. European markets were also mixed in early trading.
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Photo courtesy: Shutterstock
