U.S. stock futures were a mixed bag on Wednesday. The Dow Jones Industrial Average pointed lower, but the Nasdaq 100 and S&P 500 were in the green, following a down day on Tuesday.
President Donald Trump kicked off the morning by taking aim at oil companies. In a post on Truth Social, he instructed the Department of Justice to investigate whether energy firms are overcharging consumers at the pump. His gripe? Crude oil prices have fallen, but retail gasoline prices haven't followed suit. "Gasoline prices better start going down a lot faster than what I'm seeing!" Trump wrote.
Meanwhile, the 10-year Treasury yield sat at 4.46%, while the two-year yield was at 4.19%. According to the CME Group's FedWatch tool, markets are pricing in a 63.7% chance that the Federal Reserve will leave interest rates unchanged at its July meeting.
The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust ETF (QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket trading. SPY was up 0.26% at $735.50, while QQQ advanced 0.71% to $718.75.
Cerebras Systems
- Cerebras Systems Inc. (CBRS) tumbled 11.34% despite topping earnings expectations. CEO Andrew Feldman said Tuesday that the biggest constraint on AI growth is no longer chip supply or customer demand, but the availability of data centers needed to deploy AI infrastructure at scale.
- Market data indicates that CBRS maintains a weak price trend in the short, medium, and long terms.
Verizon And Alphabet
- Market data indicates that VZ maintains a weak price trend in the short and medium terms but a strong trend in the long term, with a moderate value score.
KB Home
- KB Home (KBH) gained 3.52% after reporting mixed financial results for the second quarter after the market closed on Tuesday.
- Market data indicates that KBH maintains a weak price trend in the long and medium terms but a strong trend in the short term, with a solid quality score.
Micron Technology
- Micron Technology Inc. (MU) rose 4.83% as analysts expect it to post quarterly earnings of $20.47 per share on revenue of $35.42 billion, after the closing bell.
- Market data indicates that MU maintains a weak price trend in the short and medium terms but a strong trend in the long term, with a poor growth score.
Cues From Last Session
On Tuesday, consumer staples and health care sectors moved higher, while information technology, industrials, and materials were among the biggest laggards.
Insights From Analysts
Jeremy Siegel maintains a highly constructive outlook for both the U.S. stock market and the broader economy, driven by unexpected energy price relief and an accelerating productivity story.
He notes that the sharp decline in crude oil has drastically shifted the monetary policy conversation. Because of this, Siegel believes the inflation environment is changing fast, stating, "Under those circumstances, I find it very difficult to envision the Fed raising rates this year."
This backdrop relieves immense pressure on the market, shifting investor focus away from recession fears toward economic resilience.
Crucially, Siegel argues that this disinflation isn't coming at the cost of economic health. The labor market remains strong, and massive structural investments are creating a booming "productivity story."
Instead of displacing workers, Siegel points out that AI and massive data center infrastructure investments are boosting output. He writes, "Higher productivity allows stronger growth without generating the inflationary pressures that traditionally accompany economic expansions."
For stock investors, this unique combination of steady employment, lower energy inputs, and tech-driven efficiency signals a highly favorable climate for rising corporate profits and may trigger a broader market rally that lifts value and cyclical stocks.
Upcoming Economic Data
Here's what investors will be keeping an eye on Wednesday.
- May's new home sales data will be out by 10:00 a.m., and the Federal Reserve Board will release its annual bank stress test results at 4:00 p.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude oil futures were trading lower in the early New York session, down 1.76% to hover around $71.92 per barrel.
Gold Spot US Dollar fell 0.75% to hover around $4,079.26 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.24% higher at the 101.6490 level.
Meanwhile, Bitcoin (BTC) was trading 0.61% higher at $62,598.81 per coin, as per the last 24 hours.
Asian markets closed higher on Wednesday, except Japan's Nikkei 225 index. Hong Kong's Hang Seng, Australia's ASX 200, China's CSI 300, India's Nifty 50, and South Korea's Kospi indices rose. European markets were mostly lower in early trade.
