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Pre-Market Performance
U.S. equity futures were mixed before the open, with value-oriented blue chips outperforming growth. Dow Jones futures rose 125 points, or 0.24%, to 52,953; S&P 500 futures added 3.5 points, or 0.05%, to 7,646.3; while Nasdaq 100 futures slipped 44.5 points, or 0.15%, to 29,081.0.
European equities traded lower across major benchmarks. The FTSE 100 fell 32.27 points, or 0.30%, to 10,757.01; France's CAC 40 declined 16.42 points, or 0.20%, to 8,285.43; and Germany's DAX dropped 124.51 points, or 0.48%, to 25,845.60.
In commodities, oil remained elevated as traders monitored supply risks tied to renewed U.S.-Iran hostilities. Brent crude was recently around $95.18 a barrel, up 0.6%, after settling Tuesday at $94.65; WTI crude traded near the $90 area after Tuesday's $90.22 settlement. Spot gold fell to about $4,302.20 an ounce, down 0.6%, while U.S. gold futures dropped 1.1% to $4,349.80. The U.S. dollar index rose 0.20% to 99.865, touching its highest level since August 17. investing.com
Hot News
- Oil and yields pressure risk appetite. Wall Street futures were subdued as renewed U.S.-Iran clashes pushed oil and Treasury yields higher, reviving concerns that energy inflation could complicate the rate outlook. The move comes at the start of September, historically a difficult month for U.S. equities.
- Global equities soften as bond sell-off deepens. World shares declined as the bond-market sell-off intensified, with investors reducing exposure to risk assets amid higher yields and geopolitical uncertainty. The weakness was visible across Asia and Europe before the U.S. open.
- Oil holds near one-month highs. Brent and WTI remained near recent highs after Tuesday's surge, with traders balancing the risk of disrupted Middle East supply against evidence that crude is still reaching the market. Brent earlier reached $97.04 and WTI touched $92.29 intraday.
- Dollar strength weighs on gold. The dollar climbed to a two-week high as investors sought relative safety and reassessed the inflation impact of higher energy prices. Gold fell to a more than three-week low despite geopolitical tension, pressured by the firmer dollar and higher-rate expectations.
- AI earnings remain a key market test. Investors are watching whether AI-linked infrastructure demand can continue supporting valuations, with Broadcom, Snowflake and Hewlett Packard Enterprise among notable companies scheduled to report after the close.
U.S. Stock Focus
- Dell Technologies — AI server demand drives guidance raise. Dell shares climbed nearly 10% in pre-market trading after the company raised its annual revenue forecast to $192 billion from $167 billion and lifted its adjusted EPS target to $25.50 from $17.90. The company cited strong demand for AI-optimized servers, with analysts pointing to $60 billion of orders and a $95 billion backlog in the quarter.
- GitLab — earnings beat sends shares sharply higher. GitLab surged about 22% pre-open after fiscal second-quarter revenue rose 21% year over year to $286.3 million, ahead of the $273.1 million consensus. Adjusted EPS of $0.25 beat the $0.18 estimate, while management raised full-year revenue guidance to $1.129 billion–$1.133 billion.
- Credo Technology — strong results overshadowed by margin concerns. Credo shares fell about 8% in pre-market trading despite reporting fiscal first-quarter revenue of $479 million, above the $471.77 million estimate, and adjusted EPS of $1.20, above the $1.17 consensus. Investors focused on margin compression, rising costs and the stock's strong year-to-date rally.
- MongoDB — shares slide despite Q2 beat. MongoDB dropped about 13.4% pre-market as slower third-quarter growth guidance and flat Atlas growth concerns offset a stronger-than-expected quarter. The company reported fiscal second-quarter revenue of $771.8 million, up 30% year over year, and non-GAAP EPS of $1.90.
- Nvidia — reported Hugging Face acquisition talks. Nvidia is reportedly in advanced talks to acquire AI platform Hugging Face in a transaction that could total about $14 billion. The discussions, if completed, would deepen Nvidia's reach into the open-source AI model ecosystem and could draw close regulatory scrutiny.
- Tesla — Cybercab event puts autonomy strategy in focus. Tesla is set to hold a Cybercab event in Austin on Thursday, with investors focused on the company's purpose-built robotaxi and the regulatory path for autonomous deployment. The Cybercab is described as a two-seater with butterfly doors and no steering wheel or pedals, though some test versions have been seen with steering wheels.
- Broadcom — fiscal Q3 results due after the close. Broadcom will report fiscal third-quarter results and its business outlook after today's market close, followed by a management call at 5:00 p.m. ET. Consensus expectations center on $3.21 in EPS and $29.25 billion in revenue, with investors likely focused on AI semiconductor demand and forward guidance.
- Snowflake — Q2 report to test AI data-cloud momentum. Snowflake is scheduled to release fiscal second-quarter 2027 results after the close and host its earnings call at 5:00 p.m. ET. The report will be watched for consumption trends, enterprise AI workload adoption and the durability of demand across its AI Data Cloud platform.
- Rocket Lab — shares dip after NASA chooses Blue Origin. Rocket Lab slipped about 2% overnight after NASA awarded Blue Origin a Mars Telecommunications Network contract worth up to about $700 million. The NASA contract calls for a Mars communications orbiter to be delivered no later than December 31, 2028, while ARK Invest bought Rocket Lab shares on Tuesday's weakness.
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