U.S. stock futures struggled for direction on Wednesday after a sharp sell-off in the previous session left Wall Street’s major indexes deeply in the red.
As of 04:51 P.M. (GMT+7), Dow Jones Industrial Average futures ticked up 0.09%, or 42 points, to 47,127.60 points, while S&P 500 futures edged down by 0.11%, or 7.20 points, to 6,764.50 points. Futures tracking the tech-heavy Nasdaq 100 slipped down by 0.17%, or 44.50 points, to 25,391.20 points, pressured by a drop in shares of AMD. While the AI chipmaker beat earnings expectations, results still disappointed investors.
The Nasdaq Composite led Tuesday’s decline, tumbling over 2% in a rout driven by a broad sell-off across major technology names. Palantir was hit especially hard, dropping nearly 8% despite beating third-quarter estimates — raising fresh questions about whether AI-related valuations have outpaced underlying fundamentals.
Investor anxiety about a potential AI bubble has grown, fueled further by Michael Burry’s short positions on Palantir and Nvidia. AMD’s mixed earnings report only stoked those concerns.
Looking ahead, earnings from McDonald’s, Qualcomm, Robinhood, and Toyota are in focus for Wednesday.
Investors will also parse the ADP private payrolls report for fresh signals on U.S. labor market conditions, in addition to mortgage application data and the ISM services index. The ongoing government shutdown—now reaching a historic duration—continues to delay some federal economic releases. The Trump administration warned of “mass chaos” for travelers as airport closures are reportedly being considered.
On the policy front, President Trump’s tariff regime faces a landmark challenge Wednesday as the Supreme Court hears arguments over the legal merits of his sweeping duties. The outcome could carry significant implications for the global economy.
