U.S. stock-index futures extended gains early Wednesday as markets parsed reports suggesting the U.S. and Iran could be edging toward a deal to end the Middle East conflict. Traders pushed major futures contracts higher as hopes for reduced geopolitical risk took hold.
By 05:27 ET (09:27 GMT), S&P 500 futures were up 45 points, or 0.6%. Nasdaq 100 futures climbed 327 points, or 1.2%, while Dow Jones futures increased by 296 points, or 0.6%.
Below are the most notable premarket movers and the drivers behind their early moves:
- Energy sector pressure: Stocks tied to the U.S. energy complex moved lower as diplomatic momentum toward a potential peace deal weighed on the oil-sensitive group. Exxon Mobil, Chevron and ConocoPhillips were all reported as declining in the premarket session.
- Semiconductor strength: Advanced Micro Devices surged after its data-center business provided enough upside to lift quarterly profit and revenue above analysts' expectations. Other chip-related names also benefited, with U.S.-listed shares of TSMC among the gainers.
- Super Micro Computer: The server and infrastructure equipment maker jumped after projecting fiscal fourth-quarter revenue that topped Wall Street's consensus, prompting a reassessment of near-term demand for its products.
- Arista Networks: Shares fell following a fiscal second-quarter outlook that fell short of already elevated expectations, triggering a negative reaction from investors.
- Uber: The ride-hailing company saw its stock rise after reporting fiscal second-quarter bookings that exceeded analysts' forecasts.
- Walt Disney: The entertainment conglomerate recorded a sharp gain after its fiscal second-quarter revenue beat estimates; this was the firm's first earnings release under new CEO Josh D'Amaro.
- CVS Health Corp: The healthcare company moved higher after raising its full-year adjusted profit guidance, attributing the change to strong execution "across our enterprise."
- Kraft Heinz: The packaged-foods company advanced after first-quarter results topped estimates, a development framed as a positive indicator for the turnaround effort led by new CEO Steve Cahillane.
- The New York Times Company: The media company climbed more than 4% after reporting digital subscriber additions that exceeded expectations amid heavy reader demand to follow developments in the Iran conflict.
- Lucky Strike Entertainment Co.: The group's shares fell more than 7% after third-quarter revenue rose but still missed analyst expectations.
- Apollo Global Management: Shares were higher after the alternative asset manager reported assets under management surpassing $1 trillion.
- Lumen Technologies: The communications firm declined following a quarterly loss that was wider than expected.
- MannKind Corp: Shares ticked up after the company announced a partnership with United Therapeutics on a treatment for a rare lung disease.
- Oscar Health Inc: The insurer's stock rose after steady medical costs helped the company double its net income.
- Deckers Outdoor Corp.: The shoe retailer gained after analysts at Bernstein upgraded the stock.
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These early moves illustrate how swings in geopolitical risk and corporate earnings-related news continue to drive premarket action across sectors, from energy and semiconductors to media, healthcare and financials.