U.S. stock futures trended higher Wednesday night after a strong trading session, supported by gains in large-cap tech stocks that pushed the S&P 500 (SPX) Index and the Nasdaq to fresh record highs. Futures on the Dow Jones Industrial Average (DJIA), the Nasdaq 100 (NDX), and the S&P 500 were up 0.68%, 0.25%, and 0.24%, respectively, at 9:00 p.m. EDT on May 13.
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New trading tool for QQQ bullsAt the time of writing, Brent crude (CM:BZ) rose 0.12% to about $105.74 per barrel, while WTI crude (CM:CL) gained 0.16% to around $101.17.
In after-hours trading on Wednesday, shares of Cisco Systems (CSCO) jumped 19% after the software giant posted stronger-than-expected quarterly results and guidance. Meanwhile, Doximity (DOCS) shares fell 18% after weak guidance and a fourth-quarter earnings miss.
Meanwhile, in Wednesday’s regular trading session , the Nasdaq and the S&P 500 were up 1.2% and 0.6%, respectively, while the Dow slipped 0.1%. Alphabet (GOOGL), Tesla (TSLA), Nvidia (NVDA), Micron (MU), and Qualcomm (QCOM) all gained as their CEOs joined President Donald Trump at a summit in Beijing.
The U.S. Senate on Wednesday approved Kevin Warsh as Federal Reserve chair. The 56-year-old lawyer and financier will now lead the central bank as inflation stays high and President Donald Trump pushes for interest-rate cuts.
Looking ahead, Bitdeer (BTDR), Klarna (KLAR), Applied Materials (AMAT), and Figma (FIG) are set to report earnings on Thursday. Traders will also watch for some key economic reports, including the U.S. retail sales data for April, import and export prices, and business inventories.