Nasdaq, S&P 500 Futures Rise Despite Surging Treasury Yields: AMD, TSLA, SPCX, AKAM, BE Stocks In Focus

Retail sentiment on Stocktwits for SPY has turned ‘extremely bullish’, while it remained ‘bullish’ on QQQ.

• U.S. stock futures were setting up a potentially stronger finish to a week in which the Nasdaq and S&P 500 have held up better than the Dow. 
• Treasury yields climbed to multi-year highs, keeping pressure on risk assets.
• Investors are also tracking reports of potential progress in U.S.-Iran negotiations, including discussions around the Strait of Hormuz. 

U.S. stock futures gained ground early Friday despite the 10-year Treasury yield touching a 17-year high of 5.19%, while the 30-year yield rose to 5.47%, adding to concerns over the Treasury Department’s bond buyback liquidity programs. Investors also parsed the developments from the Trump-Xi meeting and reports of potential progress in U.S.-Iran talks.

As of 4:00 a.m. ET, Nasdaq futures were up 0.4%, while S&P 500, Dow and Russell 2000 futures were up 0.1%. Overall, the Dow is on track for a fourth straight weekly decline, while the S&P 500 and Nasdaq Composite are poised to end the week higher.

However, on Stocktwits, retail sentiment for the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, flipped to ‘extremely bullish,’ and Invesco QQQ Trust (QQQ), which tracks the Nasdaq-100 Index, stayed ‘bullish.’

Trump-Xi Meeting 

Markets digested the high-stakes summit between President Donald Trump and Chinese President Xi Jinping in Washington. Xi described the discussions as candid and said the two sides had reached broad agreement on a number of issues. 

The meeting was particularly relevant for technology and semiconductor stocks because AI, chip supply chains and U.S.-China trade remain central points of tension between the two countries. 

Iran Talks, Strait Of Hormuz Keep Oil In Focus

Meanwhile, U.S. and Iranian negotiators reportedly explored a phased path out of conflict involving Tehran reopening the Strait of Hormuz in exchange for Washington lifting economic blockades.

Separately, Iranian President Masoud Pezeshkian told NBC News that they would like to revive its ceasefire memorandum of understanding with the U.S. before the November midterm elections.

Oil is adding to existing inflation concerns, with Brent crude trading above $100 a barrel. 

The Tech Radar

Advanced Micro Devices (AMD): Extended its rally after hitting a 52-week high as analysts projected Meta’s Muse architecture could mandate up to a 40:1 CPU-to-GPU hardware ratio. Intel Corp (INTC) gained ground along with the broader semiconductor sector on demand expectations. 

Meanwhile, hyperscalers (AMZN, META, GOOGL, MSFT and ORCL) remain in the spotlight after investor Michael Burry raised fresh alarm on AI spending, and warned that hyperscalers could face significant infrastructure write-downs later this decade. 

Alphabet Inc (GOOGL): Shares inched higher in early premarket as details emerged of a joint venture with SpaceX to launch testing for Google’s custom AI chips directly in orbit.

Cybersecurity stocks (CRWD, FTNT, S, NET, PANW) remain on the retail radar amid a stellar rally this week. OKTA and S both reached 52-week highs Thursday. 

Akamai Technologies (AKAM): Anthropic inked an $11.6 billion, seven-year deal to utilize Akamai’s infrastructure for CPU workloads, with expansion options potentially bringing total deal value to $20 billion. AKAM shares soared more than 20% in early premarket trading.

Bloom Energy (BE) & Oracle (ORCL): Bloom reaffirmed Oracle’s commitment to a 2.4 GW fuel-cell contract for Project Jupiter, alleviating severe selloff concerns around energy infrastructure permits. BE shares rose more than 1% in early premarket trading.

Trending Stocks

Tesla (TSLA): Trending upward after teasing a next-gen Roadster unveil (scheduled for October 1) featuring SpaceX-inspired design elements alongside the launch of high-volume production for its Semi truck.

SpaceX (SPCX): Gained in early premarket after CEO Elon Musk announced plans to bring up to 660,000 Nvidia GB300 GPUs online by year-end and predicted SpaceX could reach a top-tier AI model within six months.

Securitize (SECZ): Shares rose over 3% in early premarket after Cathie Wood’s ARK Invest partnered with the platform to tokenize its ARK Venture Fund on the Ethereum blockchain.

Comcast Corp. (CMCSA): Shares are under pressure in early premarket after multiple Wall Street analysts issued downgrades and target cuts citing competitive promotional headwinds in telco fiber broadband.

Regenxbio (RGNX): Shares rose over 2% in early premarket after presenting positive three-year Phase II durability data for its diabetic retinopathy gene therapy treatment at the Retina Society.

Other tickers trending on Stocktwits at the time of writing included Iovance Biotherapeutics (IOVA), FuelCell Energy (FCEL), Eli Lilly (LLY), and Coinbase (COIN).

What Else To Watch Friday

On the economic front, investors will watch for the release of the durable goods orders. Also watch out for commentary from Fed speakers: New York Fed President John Williams speaks at 5:15 am, followed by Kansas City Fed President Jeff Schmid at 9:20 am and Cleveland Fed President Beth Hammack at 2 pm ET. 

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