On Stocktwits, retail sentiment toward SPY was ‘bearish’, while it remained ‘neutral’ for QQQ.

  • Nasdaq futures get a premarket boost as blowout earnings and commentary from SpaceX boost chip stocks.
  • All eyes will be on Meta, IBM, and Tesla earnings due after the bell today.
  • Brent crude crossed $110/barrel as Iran’s Revolutionary Guards have reportedly blocked tankers in the Strait of Hormuz, while the U.S. has acknowledged that a peace deal remains “difficult.” 

U.S. stock futures were mixed early on Wednesday as investors digested the market recovery in the previous session, led by SpaceX’s blowout earnings report and a raised outlook from Super Micro Computer. 

As of 4 a.m. ET, Nasdaq futures rose 0.7%, S&P 500 futures gained 0.2%, while Dow and Russell 2000 futures were flat.

However, on Stocktwits, retail sentiment for the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 Index, remains ‘bearish’, while Invesco QQQ Trust (QQQ), which tracks the Nasdaq-100 Index, remains ‘neutral’.

U.S.-Iran Tensions Simmer

Meanwhile, oil prices have risen, with Brent crude crossing $110/barrel. Iran’s Revolutionary Guards have reportedly blocked tankers in the Strait of Hormuz, while the U.S. has acknowledged that a peace deal remains “difficult.” 

U.S. Secretary of State Marco Rubio said that the economic pressure on Tehran will continue till commerical shipping attacks stop. On the other hand, Iranian Foreign Minister Abbas Araghchi has said that the Strait will remain closed till Washington accepts their conditions. 

SpaceX Earnings Booster

SpaceX (SPCX): Shares surged 9% in early premarket trade after Elon Musk’s space and satellite venture posted its first quarterly profit since going public in June, driven by huge demand for its AI compute segment. Musk added that he sees the company targeting $1 trillion in annual recurring revenue by 2028. 

CoreWeave (CRWV), Nebius (NBIS), Nvidia (NVDA), and Intel (INTC) shares rose between 2% and 4% in early premarket trade as Elon Musk dismissed market fears of an AI compute glut.

Energy stocks (BE, XE, OKLO, SMR, NNE) rose over 2% in early premarket trade, drawing strength from Elon Musk’s comments that power and cooling infrastructure, rather than semiconductors, were becoming the main constraints on expanding AI computing. 

Tesla (TSLA): Shares rose 3% in early premarket trade ahead of the earnings report due after the bell today. Beyond its automotive business, retail will watch for commentary on its AI ambitions, robotics strategy, and merger with SpaceX, especially after Elon Musk announced yesterday that special independent committees have formed to evaluate the potential. 

The Tech Radar

On Tuesday, Citadel founder Ken Griffin reportedly cautioned that investors were “almost certainly” inside an AI bubble, highlighting the massive capital expenditures across the sector. Separately, Anthropic’s draft IPO prospectus reportedly shows H1 2026 revenue soaring to $16.3 billion, while computing expenses hit $9 billion. 

SuperMicro (SMCI) shares soared 16% in early premarket trade after the company raised its preliminary Q1 revenue guidance sharply to $18.5 billion-$19.5 billion on soaring AI demand. 

SK Hynix (SKHY), along with Samsung, is reportedly looking to upgrade its China plants to produce more memory chips. 

Meta (META) and IBM (IBM) are on the retail radar as they gear up for earnings reports later today. 

Duos Technologies (DUOT) shares rose over 3% in early premarket trading after securing a 10-year contract worth over $400 million for a 20 MW AI data center deployment. 

Lumentum (LITE) shares rose 4% in early premarket trade as Jefferies raised its price target to $1,250 from $1,200. The firm expects Lumentum to acquire a larger market share of Alphabet’s optical circuit switching demand. 

Trending Stocks

Netflix (NFLX) shares fell 6% in early premarket trade after lowering its full-year free cash flow and advertising revenue guidance, although its Q3 profit beat estimates. 

Robinhood (HOOD): Rosenblatt initiated coverage with a ‘Buy’ rating and a target price of $135. 

Other tickers trending on Stocktwits at the time of writing included TeraWulf (WULF), Strategy (MSTR), Corning (GLW), and Palo Alto Networks (PANW).

What Else To Watch On Wednesday

On the earnings front, beyond Meta, Tesla and IBM, watch out for AT&T, Inc. (T), Abbott Laboratories (ABT), NextEra Energy Inc (NEE), Philip Morris International Inc (PM), QuantumScape Corp - Ordinary Shares - Class A (QS), Southwest Airlines Co (LUV), among others.

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