US stock futures mixed as Brent tops $110 and SpaceX earnings lift chip names

what happened

According to Stocktwits, U.S. stock futures moved in different directions early Wednesday. At 4 a.m. ET, Nasdaq futures were up 0.7% and S&P 500 futures added 0.2%, while Dow and Russell 2000 futures were roughly unchanged. The market had recovered in the prior session after SpaceX's strong earnings report and a raised forecast from Super Micro Computer.

Oil climbed, with Brent crude trading above $110 a barrel. Reports said Iran's Revolutionary Guards had stopped tankers in the Strait of Hormuz. Washington called a peace agreement still hard to reach, Secretary of State Marco Rubio said pressure on Tehran would continue until attacks on merchant ships end, and Iranian Foreign Minister Abbas Araghchi said the strait stays shut until the US accepts Tehran's terms.

Individual stocks moved on company news. SpaceX rose about 9% premarket after posting its first quarterly profit since its June IPO. Super Micro gained about 16% after lifting its preliminary first-quarter revenue forecast to $18.5-19.5 billion. Netflix dropped about 6% as the streamer trimmed its full-year outlook for free cash flow and ad sales, even though third-quarter profit beat forecasts. Tesla, Meta and IBM report results later in the day.

why it matters

Strong AI-related results support sentiment in chips and data-center names, but oil above $110 adds inflation and geopolitical risk, which keeps index futures cautious. Retail sentiment on Stocktwits is split: bearish for the S&P 500 tracker and neutral for the Nasdaq-100 tracker.

market impact

US index futures and Brent oil: high crude prices and Hormuz disruption add pressure on broader market sentiment

tags

instruments