Traders work on the floor of the New York Stock Exchange (NYSE) on November 07, 2025 in New York City.
Spencer Platt | Getty Images
Stock futures rose on Wednesday, marked by a rebound in technology stocks following their sell-off in the prior day, as the names continue to seesaw in what has been a volatile month for the trade.
S&P 500 futures and Nasdaq 100 futures climbed 0.3% and 0.6%, respectively. Futures tied to the Dow Jones Industrial Average added 104 points points, or 0.2%.
In the premarket Wednesday, Advanced Micro Devices shares popped more than 5% on the heels of CEO Lisa Su saying Tuesday that the company anticipates the total market for artificial intelligence data center parts and systems reaching $1 trillion by 2030. Su also said that the company should see its overall revenue growth increase as a result of “insatiable” demand for AI chips.
Elsewhere in tech, Nvidia shares rose more than 1% after Foxconn, one of its suppliers, reported a 17% year-over-year increase in earnings. Both Nvidia and AMD had come under pressure during Tuesday’s session, dropping about 3% and more than 2%, respectively.
Tuesday saw a tale of two markets emerge — the Dow rallied more than 550 points to close at a record high, while the Nasdaq slipped. The S&P 500 closed higher on Tuesday, notching its third positive session in a row.
Consumer stocks such as Walmart, Home Depot and McDonald’s propped up the 30-stock Dow on Tuesday as traders moved into parts of the market with lower valuations and less exposure to the artificial intelligence trade. The health care sector was the top-performing sector, driven by moves higher in names such as Eli Lilly and Johnson & Johnson.
Darling AI stocks such as Nvidia swung lower on Tuesday, reflecting the uneasy sentiment among investors that tech valuations could be stretched after their recent surge. Talks of a stock market bubble have not dissipated either, but investors are showing more discernment between which tech giants appear to have a leg-up in the AI race.
“When you have very few groups making new highs, very few stocks remaining above their 200-day moving average or 40-day moving average … it’s a very interesting rotation,” Craig Johnson, chief market technician at Piper Sandler, said Tuesday on CNBC’s “Power Lunch.” “What hasn’t been working is a place to go hide right now.”
Investors also digested a new ADP report that showed private employers cut payrolls in October, adding to worries about labor market weakness. The report received greater focus since the record-setting U.S. government stoppage has halted many crucial economic releases. The U.S. government could reopen as soon as the end of this week. The Senate on Monday evening passed a spending bill that has since moved to the House of Representatives for a final vote.
