Nasdaq, S&P 500 Futures Rise After Record Close, Goldman Raises Year-End Target: Why NVDA, MU, MNTS, ZS, MRVL, SNOW Are In Focus

• Wall Street attempted to extend a tech-driven rally that pushed the S&P 500 and Nasdaq Composite to fresh record highs in the previous session. 
• Goldman Sachs reportedly lifted its year-end S&P 500 target to 8,000. 
• Marvell Technology (MRVL), Snowflake (SNOW), Salesforce (CRM), and Abercrombie & Fitch (ANF) remain in focus ahead of earnings due later Wednesday.

U.S. stock futures were higher early Wednesday after a tech-driven rally carried the S&P 500 and Nasdaq indices to record highs in the previous session. Meanwhile, Goldman Sachs has reportedly raised its S&P 500 year-end target to 8,000, up from 7,600, citing stronger earnings expectations following a robust Q1 reporting season. 

As of 4:00 a.m. ET on Wednesday: S&P 500 futures were 0.1% higher, Dow and Nasdaq futures rose 0.3%, and Russell 2000 futures were up 0.5%.

Retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, and the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq-100 Index, has remained in ‘bullish’ territory. 

Even as AI euphoria sparks bullish sentiment in the markets, geopolitical tensions linger. Secretary of State Marco Rubio noted that a formal peace agreement with Iran could take several days to finalize. Crude oil prices trended lower despite the continued closure of the Strait of Hormuz.

Trending Stocks To Watch

Nvidia (NVDA): Remains on the retail radar following statements from CEO Jensen Huang labeling Taiwan the lifelong "epicenter" of the AI revolution, along with plans to break ground on a new Taiwan headquarters project by the end of the year. 

Micron Technology (MU): Stock rose 5% in early premarket trade after passing a $1 trillion market cap and receiving a price target raise to $1,625 from $535 by UBS on Tuesday. 

SanDisk (SNDK): Barclays upgraded the stock to Overweight from Equal Weight and nearly doubled the price target to $2,300 from $1,200 on Tuesday. 

TSMC (TSM): Retail chatter suggests that the semiconductor manufacturing titan plans to hike prices by 15% on its critical 3-nanometer (3nm) chips during the second half of 2026.

Zscaler (ZS): Stock continued to tank in early premarket trade, falling another 21%. This comes on the back of weak guidance, and the confirmed departures of executives from its sales team. Piper Sandler has lowered its price target on the stock to $160 from $185.

Momentus Inc. (MNTS): Shares have surged another 33% in early pre-market trade. Retail is optimistic after a significant insider stock buy by former astronaut and board director Chris Hadfield.

Space stocks have been in the spotlight, rising amid hype around the upcoming SpaceX IPO. Other notable tickers include Redwire (RDW), Rocket Lab USA (RKLB), Sidus Space (SIDU), and Planet Labs (PL), all of which reached new 52-week highs on Tuesday.  

IREN Limited (IREN): Gained another 4% in early premarket trade after the company signed a $1.6 billion hardware purchase agreement with Dell for Blackwell systems at its Texas data centers on Tuesday. 

Marvell Technology (MRVL), Snowflake (SNOW), Salesforce (CRM), and Abercrombie & Fitch (ANF) remain in focus ahead of earnings due later Wednesday.

Other tickers trending on Stocktwits at the time of writing included Intuitive Machines (LUNR), AST SpaceMobile (ASTS), Satellogic Inc (SATL), and Transocean (RIG). 

Other Catalysts To Watch

On the economic front, investors are tracking the release of the ADP employment report and API crude oil report later in the day. A host of Federal Reserve appearances are scheduled for the day, including speeches from Dallas Fed President Lorie Logan, Fed Governor Lisa Cook, and Fed Vice Chair Philip Jefferson.

On earnings radar, watch out for quarterly reports from Bath & Body Works (BBWI), Dick’s Sporting Goods (DKS), Capri Holdings (CPRI), PDD Holdings (PDD), BioLine Rx (BLRX), and Manchester United (MANU), among others, before the bell today. 

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