U.S. stock futures moved higher on Wednesday, with technology contracts leading the advance after a weaker Wall Street session. The rebound followed renewed pressure from inflation data and a sharp drop in Nvidia, while CoreWeave’s results helped support sentiment around artificial intelligence spending.
At 4:24 p.m. (Bangkok Time), Nasdaq-100 futures rose 1.53%, outpacing a 0.67% gain in S&P 500 futures. Dow Jones Industrial Average futures added 71 points, or 0.14%.
The gains came after a negative regular session on Tuesday. The Dow Jones Industrial Average fell 0.3%, while the S&P 500 declined 0.38% and the Nasdaq Composite lost 0.74%.
Nvidia was a major drag on the market, falling 5.47% as the stock remained under pressure for a second session. The weakness was tied to concerns involving CEO Jensen Huang and an alleged relationship with a Chinese spy. The chipmaker later rose 3.4% on Wednesday pre-market trading as sentiment improved.
After the close, CoreWeave provided a lift to AI-related sentiment. Shares jumped more than 11% in extended trading after the company posted revenue above expectations and pointed to solid demand for its cloud services, suggesting continued investment in AI infrastructure.
Investors were also watching Anthropic’s planned initial public offering. The listing could reportedly raise up to $64.4 billion at a fully diluted valuation as high as $1.4 trillion, making it a potential test of demand for large AI offerings during a volatile period for technology stocks.
Inflation remained a key market focus. The U.S. consumer price index increased 0.4% in October from the prior month, above economists’ forecast for a 0.3% rise. Core CPI also climbed 0.3%, exceeding expectations.
The October reading followed a 0.6% monthly CPI increase in September, pointing to continued price pressures even as the headline rate moderated.
The data strengthened expectations that the Federal Reserve will raise interest rates in December. Market pricing showed the probability of a quarter-point increase next month rising to about 90%, according to CME Group’s FedWatch tool.
Fed Governor Christopher Waller said he would back a December rate increase even if inflation softened, and said policymakers should weigh a larger 50-basis-point move if price pressures intensified.
The U.S. bond market is closed Wednesday for Veterans Day.
