Nasdaq, S&P 500 Futures Rise, Wall Street Eyes PPI After CPI Surprise: Why PYPL, ORCL, ASML, NOK, LCID, TSLA Are In Focus

• Tech stocks looked set to extend gains Wednesday as cooling inflation lifted sentiment, though higher oil prices and geopolitical uncertainty keep investors cautious.
• Traders now await PPI data, Fed commentary, and another busy day of earnings. 
• Investors will also watch Federal Reserve Chair Kevin Warsh’s testimony before the Senate Banking Committee for clues on the path of interest rates.

U.S. stock futures traded mixed early Wednesday after a Wall Street rally in the previous session, driven by softer-than-expected inflation data and stronger-than-expected bank earnings, even as geopolitical tensions in the Middle East continued to simmer. 

As of 4:00 a.m. ET, Nasdaq futures gained 0.6%, S&P 500 futures were up 0.1%, while Dow futures fell 0.1%, and Russell 2000 futures were flat. 

On Stocktwits, retail sentiment for the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, and the Invesco QQQ Trust (QQQ), which tracks the Nasdaq-100 Index, has moved to ‘bullish’.

Traders will also be tracking Federal Reserve Chairman Kevin Warsh’s testimony at the Senate Banking Committee today. 

Trending Stocks To Watch

PayPal Holdings (PYPL): Shares surged 16% in early premarket trading following reports that the private payments company Stripe and the private equity firm Advent International had made a joint buyout offer valuing PayPal at over $53 billion. 

Oracle (ORCL): Reports suggest Oracle is the frontrunner to build Japan’s secure government cloud network. 

Nokia (NOK), Nvidia (NVDA): Reports suggest Nokia unveiled what it called the world’s first commercial AI-powered radio access network platform built with Nvidia technology. 

ASML Holding (ASML) is on the retail radar after posting stellar quarterly results and raising its annual sales forecast amid surging demand for AI chips.

Lucid Group (LCID): Shares remained under pressure in premarket trade. This comes even after management denied bankruptcy and take-private rumors and reassured investors that it retains sufficient liquidity into next year.

NIO Inc. (NIO): Extended its recent rally after announcing a $23 million investment in China’s “hottest” memory-chip developer via an IPO.

Tesla, Inc. (TSLA): Tech investor Chamath Palihapitiya supported the industrial logic of a potential Tesla-SpaceX merger to unify capital structures.

Space Exploration Technologies Corp. (SPCX): Hovers above its recent IPO price of $135, wiping out nearly a third of its post-listing value. 

Circle Internet (CRCL): Gained retail attention after Cathie Wood's ARK Investment purchased 220,000 shares of the stablecoin issuer.

Oil stocks in focus (USO, BATL, TPET, XOM, CVX): Crude oil prices ticked higher as U.S. Central Command launched a new wave of strikes against Iran and prepared to reinstate a naval blockade. Meanwhile, President Donald Trump dropped his proposed shipping fee for the Strait of Hormuz. 

Other tickers trending on Stocktwits at the time of writing included SK Hynix Inc ADR (SKHY), Taiwan Semiconductor (TSM), CrowdStrike (CRWD), and Boston Scientific (BSX).

Other Catalysts To Watch

On the economic front, investors will be tracking the release of the Producer Price Index (PPI), alongside the Empire State Manufacturing Index, the EIA Petroleum report, and the Fed's Beige Book. 

On the earnings front, Johnson & Johnson (JNJ), BlackRock (BLK), PNC Financial (PNC), Progressive (PGR), and Bank of New York Mellon (BK) report before the bell, while United Airlines (UAL) and JB Hunt (JBHT) are among others reporting after market close today. 

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