US futures climbed on Wednesday, boosted by solid earnings from SpaceX and Super Micro Computer, which reinforced a bullish outlook for the artificial-intelligence trade. Nasdaq 100 futures were up 0.6% and S&P 500 contracts advanced 0.2%. Attention now turns to earnings from Meta Platforms and Tesla, due after the bell. West Texas Intermediate crude rose 0.4% to $98.26 amid ongoing Mideast conflict and rising fuel transport costs.
SpaceX jumped 7.9% in premarket trading after reporting a big jump in its AI business and beating estimates. Companies tied to AI infrastructure also rallied after server maker Super Micro's preliminary results topped expectations. Nvidia rose 1.9% after CEO Jensen Huang struck a bullish tone during remarks in Berlin.
Market strategists remain focused on earnings as a key driver. Raymond James' Matt Orton noted tension between AI growth prospects and the industry's financing needs, adding that a strong Meta report could ease demand concerns. Runnymede Capital's Andrew Wang warned a disappointing result would cloud the sector. Billionaire Ken Griffin said investors are almost certainly in a bubble as AI spending ramps up.
BlackRock CEO Larry Fink cautioned that data center delays could raise computing costs and threaten growth. Separately, Netflix slid after forecasting a fourth straight quarter of slowing growth.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing