Retail sentiment on major ETFs such as SPY and QQQ turned ‘extremely bearish’ on Stocktwits.
- Wall Street remains positive ahead of the Federal Reserve’s policy decision and a slate of megacap tech earnings.
- The Fed is expected to hold rates steady, but investors will be watching for Chair Jerome Powell’s press conference for clues on the longer-term rate path.
- China has reportedly approved the first batch of Nvidia’s H200 AI chips for import.
U.S. stock futures were higher early Wednesday as traders geared up for the Federal Reserve’s first policy decision of the year, as well as the first of the Magnificent Seven earnings today. Meta (META), Microsoft (MSFT), and Tesla (TSLA) are all scheduled to report results after the bell.
The Fed is expected to hold interest rates steady. Investors will be watching for Chair Jerome Powell’s 2:30 PM ET press conference for policy clues for the year ahead.
As of 3:00 a.m. ET on Wednesday, Nasdaq futures were up 0.9%, S&P 500 futures and Russell 2000 futures were up 0.3%. However, the Dow futures were flat with a positive bias.
Meanwhile, retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, and the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq 100 Index, slipped to ‘extremely bearish’ from 'bearish’ a day ago, amid high message volumes. Both were among the top trending tickers on Stocktwits at the time of writing.
And there’s no stopping the precious metals rally. Both gold and silver notched fresh records, with gold surging past $5200 and silver past $114. SPDR Gold Shares ETF (GLD) was among the top trending tickers on Stocktwits at the time of writing. The iShares Silver Trust (SLV) also saw retail sentiment in ‘extremely bullish’ territory over the past day, with ‘extremely high’ levels of chatter.
Trending Stocks To Watch
Nvidia (NVDA): China has reportedly approved the first batch of H200 AI chips for imports. This follows Jensen Huang’s visit to the region this week.
Meta Platforms (META), Microsoft (MSFT), Tesla (TSLA), IBM (IBM): The earnings print will test whether AI infrastructure spending is generating sustainable bottom-line growth. Meanwhile, Tesla reportedly saw its new-car registrations in Europe drop 20% in December.
ASML (ASML): Reported record Q4 bookings, doubling analyst estimates on massive AI demand.
Amazon (AMZN): Reportedly sent an internal notice referencing ‘organizational changes,’ with expectations of further layoffs possibly emerging this week.
C3.ai (AI): The company is reportedly in talks to be acquired by Automation Anywhere.
Energy Fuels (UUUU): Roth Capital upgraded the stock to Neutral from Sell, citing supportive uranium pricing. They also upped the price target to $15.50 from $13.
Altimmune (ALT): The company is raising $75 million by selling new shares directly to investors and plans to use the funds to pay for the upcoming Phase 3 trial of its drug for MASH (a type of chronic liver disease).
Other tickers trending on Stocktwits at the time of writing included UnitedHealth Group (UNH), Richtech Robotics (RR), CoreWeave (CRWV), Movano (MOVE), among others.
Other Catalysts To Watch
On the economic front, beyond the 2:00 pm ET FOMC Decision, traders will monitor U.S. MBA Mortgage Applications and a tentative speech by President Trump this morning.
And on the earnings radar, investors will also be watching for the quarterly reports from Starbucks (SBUX), AT&T (T), GE Vernova (GEV), and General Dynamics (GD) before the markets open. Meanwhile, other than the big three (MSFT, META, TSLA), ServiceNow (NOW), and Wolfspeed (WOLF), among others, report later today.
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