01 Stock Market
Stock futures were relatively unchanged on Wednesday as investors awaited key consumer inflation data as well as continued to monitor the U.S.-Iran war and oil prices.
Dow Jones futures fell 0.2%, S&P 500 futures fell 0.1%, and Nasdaq 100 futures fell 0.1%. The tone reflects steady gains led by large-cap technology and the AI infrastructure ecosystem, with strength underpinned by positive corporate news in software and semiconductors. Positioning appears balanced ahead of key macro updates, while higher energy prices and softer gold prices shape cross-asset signals heading into the opening bell.
Notable Stock Movers: Momentum centered on AI, chips, and select EVs. ORCL up 9.77% at $164.00 after results and outlook impressed. Among mega-cap tech, NVDA up 0.1%; AAPL fell 0.1%; MSFT fell 0.1%; GOOG down 0.3%. EV-related ADRs were mixed: LI up 3.21% at $18.33, XPEV up 1.7%, while NIO fell 2%. Energy-linked funds and metals were softer: USO rose 1%; leveraged silver exposure AGQ fell 5%; AVAV down 10%.
Semiconductors and AI-adjacent hardware remained firm: TSM up 1.2%, MU up 1%, AMD up 0.3%, and storage peer WDC up 0.78% at $268.30. EV bellwether TSLA up 0.4%, while broader AI enthusiasm also supported key software and cloud-exposed names. Overall, leadership skewed toward AI infrastructure beneficiaries, with selective profit-taking in commodities-linked ETFs.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.62%, to 4.16%.
• U.S. Dollar Index rose 0.0040% to 98.94.
• WTI crude oil futures rose 2.18% to 85.27 USD/barrel; COMEX gold futures fell 0.90% to 5194.70 USD/ounce.
03 Key News
Microsoft Backs Anthropic in Legal Fight over Pentagon Blacklisting
Microsoft (MSFT) has backed Anthropic's (ANTHRO) lawsuit seeking a temporary restraining order on the Pentagon's blacklisting of the AI startup, as this would allow time for an orderly resolution of the dispute.
"As an Anthropic partner, Microsoft is directly impacted by the Department of War's designation that Anthropic presents a supply chain risk to national security," (MSFT) wrote in an amicus brief filed this week.
Microsoft (MSFT) said a temporary restraining order will enable a more orderly transition and avoid disrupting the military's use of advanced AI.
Serve Robotics, White Castle Launch Autonomous Delivery Via Uber Eats
Shares of Serve Robotics (SERV) jumped more than +11% in premarket trading on Wednesday after the company announced a delivery partnership with Uber Eats (UBER), alongside its fourth-quarter results.
Under the agreement, Serve is teaming up with restaurant chain White Castle to deliver its menu items using Serve’s autonomous sidewalk robots through the Uber Eats platform, part of Uber Technologies.
Tesla's China-Made EV Sales Rise 91% Y/Y in February
Sales of Tesla (TSLA) electric vehicles produced in China rose for a fourth straight month in February, helped by a low base from last year despite seasonal headwinds.
Deliveries of Tesla Model 3 and Model Y built at the company’s Tesla Shanghai Gigafactory, including exports to markets such as Europe, totaled 58,600 vehicles in February. That marked a 91% increase from a year earlier, following a 9.3% rise in January, according to Tesla China.
However, sales were down 15.2% from January.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
