U.S. equity futures displayed a split direction early Wednesday as investors prepared for earnings reports from Micron Technology and monitored key economic data releases. Sentiment remained fragile following a broad selloff in technology shares that weighed heavily on the previous session’s indexes.
At 4:18 p.m. (Bangkok Time), Nasdaq 100 futures advanced 0.51%, while S&P 500 contracts edged up 0.13%, modestly reversing losses incurred during Tuesday’s downturn. In contrast, Dow Jones Industrial Average futures slipped 0.13%, reflecting the index’s lower exposure to technology sectors.
A sharp decline in tech shares led to the S&P 500 dropping 1.44% and the Nasdaq Composite falling 2.21% on Tuesday. The Dow finished modestly lower, down by 45.87 points, or 0.09%. Investors pulled back from AI-driven stocks amid mounting concerns over high valuations, rapid expenditure growth, and additional monetary tightening, prompting a wave of profit-taking in the sector.
Market attention remains fixed on Micron’s quarterly results, scheduled after Wednesday’s close, as the company’s recent performance has become a reference point for investor confidence in AI-related growth. Despite tripling in value over the year, Micron’s stock sharply declined the previous session alongside the technology rout.
Micron shares rebounded by 4.5% in premarket activity, while Sandisk gained 3.4%, partially recovering from Tuesday’s selloff that saw both stocks fall 13%. The Roundhill Memory ETF, which lost 14% during the regular session, was up 4.7% before the open.
Outside of corporate earnings, uncertainty lingers over diplomatic developments between the U.S. and Iran. Although President Trump reaffirmed his stance to keep the Strait of Hormuz toll-free, Iran and Oman have initiated talks to potentially implement shipping fees in the important trade corridor.
Results from Paychex are due before the start of trading. Additionally, new data on building permits and new home sales for May are anticipated later in the session.
