Nasdaq, S&P 500 Futures Fall Ahead Of CPI Data, Oracle Earnings: Why SMCI, TSM, CRWV, YYGH Are Keeping Traders Engaged Today

Stocktwits data showed retail traders continued to maintain a ‘bullish’ stance on QQQ, but have turned ‘neutral’ on SPY.

• A fresh round of geopolitical uncertainty weighs on the market sentiment after overnight U.S. strikes against Iran. 
• Investors await today's May CPI data and Oracle earnings. 
• The cautious tone follows a notable rotation away from high-flying AI and semiconductor stocks this week. 

U.S. stock futures were under pressure early Wednesday as investors geared up for a crucial inflation report and Oracle’s earnings report, amid fresh geopolitical tensions in the Middle East.

Markets are absorbing the shock of overnight retaliatory military strikes ordered by President Donald Trump against Iranian air defenses. On the macroeconomic front, all eyes are on the U.S. May Consumer Price Index (CPI) report today. Some analysts warn the print could challenge three-year highs due to sticky food and energy costs. 

As of 4:00 a.m. ET on Wednesday: Nasdaq futures fell 0.6%, S&P 500 futures were down 0.4%, Dow futures were down 0.2%, while Russell 2000 futures declined 0.5%.

Retail sentiment for the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, moved to ‘neutral’ from ‘bullish’ territory a day ago, while the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq-100 Index, remained ‘bullish’.

Trending Stocks To Watch

Super Micro Computer Inc (SMCI) stock fell 10% in early premarket trade after the company announced an aggressive $7 billion financing package to fund its massive AI infrastructure order backlog.

Oracle (ORCL) is trending on Stocktwits ahead of its highly anticipated fiscal Q4 earnings release after the closing bell. Investors will be watching whether its cloud infrastructure growth can justify the heavy AI capital spending required to compete with hyperscalers. 

Taiwan Semiconductor (TSM) stock fell 2% in early premarket trade. The foundry giant reported a 30% year-over-year surge in May sales, reinforcing demand for hardware built for Nvidia and AMD. However, concerns around a potential AI chip regulation have rattled investors. 

Coreweave Inc (CRWV): The AI cloud provider extended its recent slide following reports that its three co-founders and major investor Magnetar Financial have unloaded billions in shares since the post-IPO lockup expired. 

SpaceX (SPACZZX): Ahead of its record-shattering IPO this week, reports indicate that demand has topped $250 billion (nearly 4x oversubscribed). Meanwhile, the company has said that it aims to test space-based AI data centers by late 2027. 

Meanwhile, other space stocks such as AST Spacemobile (ASTS), Intuitive Machines (LUNR) and Rocket Lab (RKLB) are under mild pressure in early trade today. 

Eli Lilly (LLY): The pharmaceutical giant received a boost after the FDA approved a new maintenance dosing for its atopic dermatitis drug, Ebglyss.

Summit Therapeutics (SMMT) came under pressure, falling nearly 6% in early premarket trade following an equity offering. 

Robinhood Markets (HOOD) is on the retail radar after CEO Vlad Tenev announced the company has secured a green light to underwrite IPOs. Additionally, a regulatory filing shows that director Meyer Malka purchased $20.2 million in common stock. 

Starbucks (SBUX) is gaining retail attention on reports that the coffee chain is exploring alternatives for its Japanese business unit, including a potential stake sale. 

YY Group Holdings (YYGH) was one of the top pre-market gainers, soaring over 55% after it unveiled an Nvidia-powered humanoid robot program for service operations.

Other tickers trending on Stocktwits at the time of writing included Nike Inc. (NKE), Photronics (PLAB), Nio Inc. (NIO), and Tesla Inc. (TSLA). 

Other Catalysts To Watch

On the economic front, investors are tracking the release of May CPI data at 8:30 am ET. Oil traders will also monitor weekly EIA crude oil inventory data against the backdrop of renewed tensions in the Middle East. 

On earnings radar, watch out for quarterly reports from Chewy (CHWY), Core & Main (CNM), J.Jill (JILL), and Cheetah Mobile (CMCM) before the bell today. Apart from Oracle, RH (RH), Stitch Fix (SFIX), and Globus Maritime (GLBS) are among the other names reporting after market close. 

For updates and corrections, email newsroom[at]stocktwits[dot]com<