U.S. stock futures rose on Wednesday following Tuesday’s positive close. Futures of the major benchmark indices were higher.
Investors are eyeing the producer price index data, which is scheduled to be released before the market opens today.
Additionally, the Street is also awaiting the Federal Open Market Committee’s decision on interest rates later in the day, which will be followed by the Fed Chair Jerome Powell‘s press conference and the publication of the Summary of Economic Projections.
The CME Group’s FedWatch tool‘s projections show markets pricing a 98.9% likelihood of the Federal Reserve leaving the current interest rates unchanged later today.
With the U.S.-Iran war entering its third week, President Donald Trump said that the U.S. is not prepared to bring the military conflict to a close, but would still exit soon. “We’re not ready to leave yet. But…we’ll be leaving in the near future. We’ll be leaving in pretty much the very near future,” said Trump. –
Meanwhile, the 10-year Treasury bond yielded 4.17%, and the two-year bond was at 3.66%.
| Index | Performance (+/-) |
| Dow Jones | 0.54% |
| S&P 500 | 0.51% |
| Nasdaq 100 | 0.62% |
| Russell 2000 | 0.92% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Wednesday. The SPY was up 0.48% at $674.01, while the QQQ advanced 0.63% to $607.10.
Stocks In Focus
Lululemon Athletica
- Lululemon Athletica Inc. (NASDAQ:LULU) fell 2.04% in premarket on Wednesday after it issued fiscal year guidance below estimates.
- Benzinga’s Edge Stock Rankings indicate that LULU maintains a weaker price trend over the short, medium, and long terms, with a poor quality score.
CF Industries
- CF Industries Holdings Inc. (NYSE:CF) fell 2.72% as crude oil futures declined and Mizuho downgraded CF Industries to Underperform, warning that the stock’s 60% year-to-date rally is “overdone” as the geopolitical spike in nitrogen prices is likely temporary, according to an Investing.com report.
- Benzinga’s Edge Stock Rankings indicate that CF maintains a strong price trend over the short and medium terms but a strong trend in the long term, with a moderate value score.
Micron Technology
- Micron Technology Inc. (NASDAQ:MU) gained 2.99% as analysts expect it to report earnings of $8.77 per share on revenue of $19.26 billion, after the closing bell.
- Benzinga’s Edge Stock Rankings indicate that MU maintains a strong price trend over the short, medium, and long terms, with a solid quality score.
KKR & Co
- KKR & Co Inc. (NYSE:KKR) rose 0.71% as it announced an investment of up to $310 million in PMI Electro and its e-bus unit Allfleet.
- Benzinga’s Edge Stock Rankings indicate that KKR maintains a weak price trend over the short, medium, and long terms, with a strong value ranking.
New Fortress Energy
- New Fortress Energy Inc. (NASDAQ:NFE) jumped 6.96% after it signed a debt restructuring agreement with creditors.
- Benzinga’s Edge Stock Rankings indicate that NFE maintains a weak price trend over the short, medium, and long terms.
Cues From Last Session
Energy, consumer discretionary, and communication services led the S&P 500’s gains on Tuesday, though consumer staples and health care stocks trended lower.
| Index | Performance (+/-) | Value |
| Dow Jones | 0.10% | 46.993.26 |
| S&P 500 | 0.25% | 6.716.09 |
| Nasdaq Composite | 0.47% | 22.479.53 |
| Russell 2000 | 0.67% | 2.519.99 |
Insights From Analysts
Professor Jeremy Siegel currently maintains a “cautious tone” regarding the U.S. stock market in the short term, even as he remains fundamentally bullish on the long-term outlook.
He warns that the market could face a “10% correction from the recent highs” due to a “geopolitical shock” and rising oil prices. Siegel emphasizes that surging gasoline costs—the “most visible price in the economy”—immediately hit consumer psychology.
Despite these pressures, he argues this is a “market facing a near-term shock, not one losing its long-term foundation.”
Regarding the broader economy, Siegel describes the current environment as a “softer backdrop, not a broken one”. While fourth-quarter GDP was revised downward, he believes the headline “likely overstated the slowdown” and notes that the labor market has not yet “cracked.”
On monetary policy, he expects the Federal Reserve to remain “almost certainly on hold” at its March meeting, as the current inflation pressure is a supply-side shock rather than one driven by excess demand.
Ultimately, Siegel’s conviction remains intact, stating, “I remain very bullish about AI and on the productivity gains that will come from it”.
Upcoming Economic Data
Here’s what investors will be keeping an eye on Wednesday.
- February’s Producer Price Index (PPI), Core PPI, and year-over-year PPI data will be released by 8:30 a.m. ET.
- January’s factory orders data will be out by 10:00 a.m., the FOMC interest-rate decision will be released by 2:00 p.m., and Fed Chair Powell will hold a press conference at 2:30 p.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude oil futures were trading lower in the early New York session by 1.82% to hover around $93.79 per barrel.
Gold Spot US Dollar fell 0.32% to hover around $4,989.52 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.08% higher at the 99.6580 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.44% lower at $74,016.98 per coin, as per the last 24 hours.
Asian markets closed higher on Wednesday, as Japan’s Nikkei 225, China’s CSI 300, South Korea’s Kospi, India’s Nifty 50, Australia’s ASX 200, and Hong Kong’s Hang Seng indices rose. European markets were also higher in early trade.
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