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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 4, 2026.
Jeenah Moon | Reuters
Stock futures rose early Wednesday after a huge market rally that saw major indexes, including the broad S&P 500, close at a record high as expectations for a looming resolution to the Iran war lifted market sentiment.
Dow futures were up 146 points, or 0.27%. S&P 500 futures added 0.37%. Nasdaq-100 futures were up 0.16%.
SpaceX shares plunged on Wednesday after a surge in AI unnerved rattled investors and clouded an otherwise expectation-beating quarter. The stock was down 8% in premarket trading.
In SpaceX's first earnings report as a public company on Tuesday, Elon Musk's space firm said its capital expenditures jumped sixfold to $18.4 billion in the second quarter. This figure was ahead of analyst expectations, with the majority of the spending going towards AI.
Chip giant AMD also dropped 7% in premarket after posting adjusted earnings that only came slightly ahead of the Street's estimates.
Asia-Pacific markets rose Wednesday, with South Korean stocks leading gains after the Kospi closed 3.76% higher. Japan's Nikkei 225 rose 3.66%. Australia's benchmark S&P/ASX 200 was 0.9% higher. Mainland China's CSI 300 added 1.24% Hong Kong's Hang Seng Index was up 0.13% in the last hour of trade.
The pan-European Stoxx 600 also opened in the green, after reaching an all-time high on Tuesday.
Meanwhile , oil prices were slightly higher. West Texas Intermediate futures for September delivery rose about 0.3% to $76.03 per barrel. Brent crude futures for October delivery, the international benchmark, were up 0.8% at $80.04 a barrel.
Markets jumped Tuesday, lifted by solid earnings and comments from Treasury Secretary Scott Bessent that the U.S. and Iran could be closing in on a deal to reopen the Strait of Hormuz. The S&P 500 rose 1.8% to close above 7,700 for the first time, and the Dow gained more than 900 points for another record close.
Entertainment heavy-hitter Disney is slated to report on Wednesday morning. Results are also due for ride-sharing giant Uber and pharmaceutical company Eli Lilly. E.l.f Beauty and DoorDash will share quarterly reports in the afternoon.
On the economic front, traders will be watching for ADP's private payrolls report for July, out Wednesday morning. The Dow Jones consensus estimate anticipates private employers added 75,000 jobs last month. The S&P Global Services PMI and ISM non-manufacturing readings for July are also due.
2 Hours Ago
Here are the stocks moving in premarket trading; from SpaceX to Pinterest
Here are they key stocks moving in premarket trading on Wednesday as the earnings bonanza continues:
- SpaceX shares plunged nearly 10% on Wednesday after a reported surge in AI spending clouded strong earnings that beat expectations.
- AMD declined 8% in premarket despite an earnings beat.
- Pinterest fell 8.5% after it forecasted slower third-quarter revenue growth.
- Booking Holdings rose nearly 7% after it beat second-quarter profit estimates.
- Uber rose 3% in premarket after the U.K.'s Transport for London granted permission to launch supervised autonomous robotaxi vehicle trials with Wayve.
— Sawdah Bhaimiya
2 Hours Ago
SpaceX dives 10% after AI spending surge rattles investors
SpaceX shares plunged on Wednesday after a surge in AI spending rattled investors and clouded an otherwise expectation-beating quarter.
The stock was down over 10% in premarket trading.
In SpaceX's first earnings report as a public company on Tuesday, Elon Musk's space firm said its capital expenditures jumped sixfold to $18.4 billion in the second quarter. This figure was ahead of analyst expectations, with the majority of the spending going towards AI.
Investors have been on edge this earnings season as concerns rise about whether large tech companies can prove their multibillion-dollar investments are yielding returns.
— Arjun Kharpal
3 Hours Ago
Kospi jumps nearly 4% as Asia markets close higher
Asia-Pacific markets rose Wednesday, with South Korean stocks leading gains.
Kospi rose 3.8% to end the day at 6,598.26 and the small-cap Kosdaq rose 2.42% to 799.59.
Japan's Nikkei 225 gained 3.7% to 66,300.44, while the Topix added 2.1% to 4,046.17. Australia's benchmark S&P/ASX 200 advanced 0.9% to close at 9,227.8.
Mainland China's CSI 300 climbed 1.24% to 4,658.16. Hong Kong's Hang Seng Index was up 0.13% in the last hour of trade.
—Lee Ying Shan
3 Hours Ago
Siemens Energy rises 2.7% after posting record earnings
Siemens Energy was trading 3.4% up on Wednesday after the company posted record levels of orders, revenue and profitability for the third quarter. The company said order intake was driven primarily by U.S. demand.
Orders reached 17.9 billion euros and revenue rose 18.5% on a comparable basis (excluding currency translation and portfolio effects) to 11.4 billion euros. Profit before Special items more than tripled to 1.6 billion euros, compared with 497 million euros in Q3 FY 2025.
The stock has risen more than 50% in the past 12 months as the AI boom has led to huge demand for energy infrastructure.
— Kai Nicol-Schwarz
3 Hours Ago
Infineon shares fall after best-ever sales quarter undershot profit expectations
Shares of Infineon fell around 5% at the market open as the German chipmaker's profit margins came in lower than analysts expected.
Infineon raised guidance for the rest of the year after posting record revenues in the third quarter, at €4.17 billion, compared to analysts' estimates of €4.13 billion.
But profit came in slightly lower than forecast, at €797 million against an expected €809 million.
Infineon CFO Sven Schneider told CNBC on Tuesday that there may be "quarterly ups and downs" on revenue and profitability, but that the firm is focused on the "midterm journey."
– Joseph Wilkins
3 Hours Ago
European stock markets start Wednesday’s session in the green
A broker is pictured at the stock exchange in Frankfurt, Germany, on May 6, 2025.
Daniel Roland | Afp | Getty Images
Europe's Stoxx 600 benchmark was up 0.47% shortly after 8:00 a.m. in London (3:00 a.m. E.T.), as most of the continent's sectors and main regional bourses opened Wednesday's session decisively in the green.
Mining stocks rose 2.6%, while retail names added 1.4%, and oil and gas companies were up 1.2%.
In Frankfurt, the German DAX advanced 0.62% in early dealmaking, as Italy's FTSE MIB gained 0.56% in Milan. In London, the U.K.'s FTSE 100 rose 0.39% and, in Paris, the French CAC 40 added 0.20% in morning trade.
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—Hugh Leask
4 Hours Ago
The Stoxx 600 just hit a record high – here’s what’s driving the pan-European index
The Stoxx 600 touched a record high on Tuesday, closing 0.7% higher at 656.86 points. That rally looks set to continue Wednesday, according to futures data.
Its underlying sectoral picture has been particularly mixed year-to-date, with some pockets of the Stoxx faring better than others. Technology stocks and banks have done well, while luxury stocks and automakers have struggled.
CNBC breaks down the leaders and laggards of 2026 so far.
— Joseph Wilkins
5 Hours Ago
Gold rises for third straight day as oil softens
Gold rose for a third consecutive session on Wednesday, as lower oil prices and a softer dollar boosted the yellow metal's appeal.
Spot gold rose 1.4% to around $4,152.36 an ounce, while gold futures rose 1.1% to $4,200.20.
Gold continues to move inversely to oil, which dropped over 5% on Tuesday after Treasury Secretary Scott Bessent told CNBC an agreement to open the Strait of Hormuz could be imminent.
Since the war began, gold has tended to move in line with other risk assets, which are coming off a bumper session that saw the S&P 500 top 7,700 for the first time.
— Joseph Wilkins
6 Hours Ago
Oil slides as Bessent signals Hormuz deal is close
Oil prices fell more than 1% Wednesday as investors assessed diplomatic efforts to end the conflict between the U.S. and Iran.
West Texas Intermediate futures for September delivery, the U.S. benchmark, declined about 1% to $74.97 per barrel. Brent crude futures for October delivery, the international benchmark, lost 0.8% to $78.77 a barrel.
The U.S. military said Tuesday that commercial vessels continue to transit the Strait of Hormuz safely, after Treasury Secretary Scott Bessent suggested a deal with Iran to reopen the strategic waterway could be reached within days.
In a post on X, U.S. Central Command said the "southern route of the Strait of Hormuz remains free and open," adding that U.S. forces had helped more than 1,000 commercial vessels navigate the passage despite what it described as "unwarranted" Iranian aggression.
The southern shipping lane runs through Oman's territorial waters, away from the section of the strait close to Iran.
—Lee Ying Shan
6 Hours Ago
Shares of Zhongji Innolight, Eoptolink fall on reported moves aimed at U.S. import ban
Shares of Zhongji Innolight fell nearly 5% and Eoptolink Technology dropped 5.7% after Reuters reported that the Trump administration was drafting measures to ban imports of new models of Chinese optical transceivers as part of broader efforts to curb China's AI development.
Zhongji Innolight, which debuted on the Hong Kong stock market last week, said in its prospectus that it was the world's largest provider of optical interconnect solutions, part of the AI ecosystem, by revenue.
Peer Eoptolink manufactures optical modules used in broadband networks and data centers.
— Jenny Lee
7 Hours Ago
Yen strengthens as investors watch for more intervention signals
The Japanese yen strengthened 0.19% to 157.41 against the dollar on Wednesday.
Investors are now watching whether Japanese and U.S. authorities extend their currency operations beyond the initial burst of intervention, said Vincent Chung, co-portfolio manager for diversified income bond strategy at T. Rowe Price.
"The yen has already recovered a meaningful portion of its previous underperformance against other Asian currencies, including the Korean won. If intervention continues, the yen could strengthen further against the U.S. dollar," he wrote in a note on Wednesday.
A longer campaign could support additional yen gains although markets remain skeptical that intervention alone can engineer a lasting reversal, Chung added.
— Lee Ying Shan
9 Hours Ago
SoftBank jumps 10% as Asia tech stocks track Wall Street AI rally
Asian technology stocks surged Wednesday after a strong Wall Street rally overnight that saw robust corporate earnings and easing oil prices push major U.S. indexes to fresh records.
Shares of SoftBank Group surged more than 10%, while chip equipment maker Tokyo Electron added 3.64%. Advantest jumped 7%, and Japanese memory chipmaker Kioxia rose 6.34%.
In South Korea, SK Hynix jumped 6.9%, while Samsung Electronics gained over 4%. Seoul Semiconductor popped 7.6%.
Tech stocks have been seeing heightened volatility, with South Korea's semiconductor-heavy market whipsawing between steep losses and record gains in recent sessions.
—Lee Ying Shan
10 Hours Ago
Australian equities hit record high; mining heavyweights rally
Australia's benchmark S&P/ASX 200 advanced 0.67%, hitting an intraday record high, data from LSEG showed.
Index heavyweight iron ore giant BHP Group advanced 2.3%, while mining peer Rio Tinto added 1.68%. Iron ore producer Fortescue also added 0.5%. Year-to-date, the index gained around 5%.
—Lee Ying Shan
10 Hours Ago
Samsung Electro-Mechanics, LG Innotek shares surge on reported Tesla camera module supply deals
Shares of Samsung Electro-Mechanics jumped 12% and LG Innotek surged 15% in early trading Wednesday after a local media report said the companies had secured exclusive contracts to supply camera modules for Tesla's robotaxi, the Cybercab.
Samsung Electro-Mechanics began mass production of the camera modules last month, while LG Innotek is expected to begin production toward the end of this year, Hankyung reported, citing industry sources.
Korea stocks were broadly higher, with the Kospi index up nearly 5%.
— Jenny Lee
11 Hours Ago
South Korea's Kospi jumps 4% as Asia markets open higher
Asia-Pacific markets traded higher on Tuesday, with South Korean equities leading gains in the region. The Kospi was up over 4%, while the small-cap Kosdaq advanced 1.6%.
Japan's Nikkei 225 rose 1.83%, and the Topix added 0.9%.
Australia's benchmark S&P/ASX 200 was 0.46% higher.
— Lee Ying Shan
11 Hours Ago
Nikkei 225 Chicago futures rise after U.S. markets surge overnight
Asia's equity futures signal markets will open higher Wednesday, after Wall Street rose overnight amid optimism over a U.S.-Iran deal.
U.S. Treasury Secretary Scott Bessent said Washington and Tehran could reach a deal as early as Tuesday or Wednesday to reopen the Strait of Hormuz, boosting hopes for easing geopolitical tensions and lower energy prices.
The U.S. military's Central Command said the southern route through the Strait of Hormuz remains "free and open" for commercial shipping despite what it described as "unwarranted Iranian aggression."
Nikkei 225 futures in Chicago were up 0.25%, while the Osaka contract was last up about 2.5% compared to the index's last close of 63,957.53.
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Futures for Australia's S&P/ASX 200 were last up 0.45%, compared to the index's close of 9,145.8 while Hong Kong's Hang Seng futures edged 0.3% higher compared to the index's last close of 25,852.92.
— Lee Ying Shan
12 Hours Ago
SpaceX sinks following first earnings report
Dominika Zarzycka | Nurphoto | Getty Images
SpaceX shares were down about 7% in after-hours trading on Tuesday, following the company's first-ever earnings report after going public in June.
The rocket launch and connectivity company reported second-quarter revenue of $7.81 billion, versus $6.93 billion expected, and capital expenditures of $18.37 billion, which far exceeded analysts' projections.
– Tobias Burns
12 Hours Ago
Stocks making the biggest moves in extended trading
Several companies saw their shares move on earnings results.
Arista Networks — Shares gained about 10% after second quarter results surpassed estimates. Adjusted earnings came in at $1.02 per share on revenue of $3.04 billion, versus the LSEG consensus estimate of 88 cents a share and $2.82 billion.
AMD — The chipmaker plunged 8% after the bell on the back of second-quarter results that failed to impress investors. The company earned an adjusted $1.66 per share on revenue of $11.54 billion. To be sure, those numbers were slightly ahead of LSEG consensus estimates.
Click here for more after-hours movers.
— Darla Mercado
12 Hours Ago
S&P 500 futures open little changed
Futures linked to the S&P 500 advanced 0.1% on Tuesday evening. Dow futures gained 94 points, or 0.2%, and Nasdaq-100 futures fell 0.1%.
— Darla Mercado
Dow surges 900 points, S&P 500 closes above 7,700 for first time in booming Wall Street rally
S&P 500 closes higher Friday as Amazon surges; Dow posts fourth straight winning month: Live updates
