U.S. stock futures ticked higher on Wednesday after a volatile session for equities on Tuesday.
Oil prices were up 3% as the U.S.-Israeli war on Iran disrupted Middle East supplies. However, the pace of gains slowed from past sessions after President Donald Trump announced the U.S. Navy would escort tankers through the Strait of Hormuz and pledged political risk insurance for maritime trade transiting the waterway.
Higher oil prices have stoked fears of stickier inflation, which could keep the Fed on hold longer and remove the rate-cut cushion markets have been leaning on all year. Wall Street’s fear gauge, the CBOE Volatility Index (VIX), jumped to 23.96 on Wednesday, its highest level since November.
Investors on Wednesday will also be watching the ADP private payrolls report for February, along with quarterly results from Broadcom, Abercrombie & Fitch and Okta.
The 10-year Treasury bond yielded 4.08%, and the two-year bond was at 3.53%. The CME Group’s FedWatch tool‘s projections show markets pricing a 97.3% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
| Index | Performance (+/-) |
| Dow Jones | 0.17% |
| S&P 500 | 0.32% |
| Nasdaq 100 | 0.36% |
| Russell 2000 | 0.45% |
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 slightly up in premarket trading on Wednesday. The SPY was up 0.23% at $681.90, while the QQQ rose 0.29% to $603.25.
Stocks In Focus
Broadcom
- Shares of Broadcom Inc (NASDAQ:AVGO) were up 0.4% before the bell on Wednesday. The chipmaker is due to report fiscal first-quarter results after markets close. Analysts expect earnings per share of $1.88 on revenues of $19.18 billion, according to data from Benzinga Pro.
- Benzinga’s Edge Rankings place AVGO in strong Momentum and Quality rankings, with a favourable long-term price trend.
Okta
- Analysts estimate that cybersecurity company Okta Inc (NASDAQ:OKTA) will report fourth-quarter earnings per share (EPS) of $0.62 on revenues of $749.58 million after markets close on Wednesday.
- Benzinga’s Edge Rankings place Okta in the top quartile of Growth rankings, although Momentum and Value rankings are weak.
Abercrombie & Fitch Co
- Shares in Abercrombie & Fitch Co (NYSE:ANF) were up 2% in premarket trading. Wall Street expects the company to report quarterly earnings at $3.57 per share on revenue of $1.67 billion before markets open on Wednesday.
- Benzinga’s Edge Rankings assign solid scores in Value and Quality to ANF, though Momentum scores are tepid. Price trends seem favourable across the medium and long term.
Box
- Box, Inc. (NYSE:BOX) posted upbeat earnings for the fourth quarter after the closing bell on Tuesday. Box sees fiscal 2027 adjusted EPS of $1.55, versus the $1.53 analyst estimate, and revenue of $1.28 billion, versus the $1.27 billion estimate. Shares were up more than 6% before the bell on Wednesday.
- Benzinga’s Edge Rankings assign poor scores to BOX in the Momentum, Value and Growth metrics, with unfavourable price trends across the board. The cloud company’s stock has lost over 28% in the past year.
Ross Stores
- Shares of Ross Stores Inc (NASDAQ:ROST) jumped over 6% before the bell on Wednesday, after the company reported better-than-expected financial results for the fourth quarter on Tuesday. The company posted revenue of $6.64 billion versus estimates of $6.41 billion and earnings per share of $2 versus estimates of $1.89, per Benzinga Pro.
- Benzinga’s Edge Rankings indicate favourable price trends across time frames and a solid Momentum score for the stock.
Cues From Last Session
On Tuesday, materials and industrials led market losses amid concerns that rising oil prices and borrowing costs could slow the U.S. economy. Major tech names like Nvidia (NASDAQ:NVDA) and U.S. memory stocks fell, tracking declines in South Korean chipmakers.
| Index | Performance (+/-) | Value |
| Dow Jones | -0.83% | 48,501.27 |
| S&P 500 | -0.94% | 6,816.63 |
| Nasdaq Composite | -1.02% | 22,516.69 |
| Russell 2000 | -1.79% | 2,608.36 |
Upcoming Economic Data
Here’s what investors will be keeping an eye on Wednesday.
- The February 2026 ADP National Employment Report, which tracks private sector jobs, will be released at 8:15 AM ET.
- The final S&P U.S. services PMI will be out by 9:45 AM ET. February’s ISM services data will be released by 10:00 AM, and the Fed’s Beige Book will be published at 2:00 PM ET.
Commodities, Crypto, And Global Equity Markets
WTI Crude oil futures climbed toward more than 2.2% toward $77 a barrel on Wednesday. Brent rose $2.67, or 3.3%, to $84.07 a barrel.
Gold Spot US Dollar ticked up 1.5% to $5,162.06 per ounce, with gold futures up 0.82% at $5,165.30 after slumping on Tuesday over fears that the war in Iran could go on for longer than expected.
The U.S. Dollar Index spot was marginally up at the 99.094 level.
At last check, Bitcoin (CRYPTO: BTC) was exchanging hands at $69,265.34, up 2.16% in the past 24 hours.
Asian markets suffered their steepest losses in nearly a year on Wednesday. South Korea’s Kospi recorded its worst single-day, plunging 12%. Japan’s Nikkei 225 fell 3.6%, Australia’s ASX 200 dropped 1.9%, Hong Kong’s Hang Seng declined around 2%, and mainland China’s CSI 300 slid about 1%. India’s Sensex and Nifty 50 also lost more than 1%.
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