U.S. stock futures rose early Wednesday after the S&P 500 ended its record three-day winning streak. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.24%, 0.12%, and 0.01%, respectively, at 4:35 a.m. EST on September 24.
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During Tuesday’s regular trading session, all three major indexes closed in negative territory, following Federal Reserve Chairman Jerome Powell’s warning that equity prices were “fairly highly valued”. The decline was also driven by a 2.8% drop in Nvidia (NVDA) after analysts cautioned about the highly circular nature of its $100 billion deal with OpenAI. Following a volatile trading session, the Nasdaq Composite, the S&P 500, and the Dow Jones closed down 0.95%, 0.55%, and 0.19%, respectively.
After the markets closed, shares of chipmaker Micron (MU) rose over 2%, following a healthy Q4FY25 beat and strong guidance.
On the economic front, investors are awaiting reports on August new home sales and building permits, both key indicators of U.S. housing and overall economic health.
There are no notable earnings releases scheduled for the day.
Meanwhile, the U.S. 10-year Treasury yield was down, floating near 4.10%. WTI crude oil futures were trending higher, hovering near $63.77 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price decreased to nearly $3,809 per ounce on Wednesday.
Elsewhere, European stocks opened lower on September 24, pressured by Powell’s remarks on stretched U.S. equity valuations. However, defense stocks rallied after President Donald Trump suggested that Kyiv could win back “all of Ukraine.”
Asia-Pacific Markets Traded Higher Today
Asia-Pacific markets traded mostly higher on Wednesday, despite tracking Wall Street losses and global valuation concerns. Meanwhile, Chinese tech giant Alibaba’s (BABA) Hong Kong-listed shares surged to a new four-year high after CEO Eddie Wu announced plans to increase AI investment above $50 billion.
Hong Kong’s Hang Seng index advanced 1.37%. In China, the Shanghai Composite rose 0.83%, while the Shenzhen Component added 1.73%. Meanwhile, Japan’s Nikkei gained 0.30%, and the Topix rose 0.23%.
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