Lumentum, CoreWeave, SMCI, and More Stocks That Explain Today's Market

Dow Jones19:18

Stock futures were rising on Wednesday after a solid batch of tech earnings gave the broader market a boost ahead of the July CPI inflation report.

Lumentum jumped 7.7% ahead of the opening bell after the optical networking company reported strong earnings for its fiscal fourth quarter, as the artificial-intelligence boom drives up demand for its products.

CoreWeave surged 19% after the cloud computing company reported a narrower loss and higher revenue than analysts were expecting for the second quarter.

Super Micro Computer Inc. was the S&P 500's top performer in premarket trading, rallying 9% after the server maker's fourth-quarter earnings smashed Wall Street estimates.

The strong results lifted other AI stocks. Optical device company Coherent rose 5.4%, glassmaker Corning climbed 2.9%, chips and networking company Marvell gained 3%, and memory-card maker Sandisk advanced 3.8%.

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