Why Are Nasdaq Futures Rising Premarket? INTC, SKHY, ORCL, SPCX, ASTS, CRCL, COIN Stocks In Focus

• The Federal Reserve is likely to raise interest rates for the first time in three years today. All eyes will be on Fed Chair Kevin Warsh’s commentary on the rate path beyond September. 
• The Fed is scheduled to announce its decision at 2 p.m. ET, followed by press conference at 2:30 p.m.
• Intel and SK Hynix are on retail radar after reports that the South Korean memory-chip maker is in talks with Intel about potentially manufacturing memory chips in the U.S. for the first time. 

U.S. stock futures edged higher early Wednesday as investors looked past another weak session on Wall Street and turned to the Federal Reserve's interest rate decision today. Markets are pricing in a 92.5% probability of a rate hike, which would be the first since July 2023, to combat sticky inflation and geopolitical energy shocks. 

As of 4:00 a.m. ET, Nasdaq futures rose 0.4%, S&P 500 futures gained 0.1%, while Dow and Russell 2000 futures were flat with a positive bias.

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

Fed Decision Takes Center Stage

The Federal Reserve will release its policy decision at 2 p.m. ET, followed by updated economic projections and Fed Chair Kevin Warsh’s press conference at 2:30 p.m. This meeting comes amid a mixed macro backdrop, with crude oil above $100 a barrel and the 10-year Treasury yield above 5%, raising concerns about higher borrowing costs and their impact on loans and financing. 

Investment advisor Gary Black said in a post on X that an immediate 25-basis-point rate increase by the Federal Reserve would be healthier for stock markets than risking a prolonged tightening cycle driven by surging oil prices. He added that a measured, single rate adjustment, clearly communicated by policymakers, could ultimately push 10-year yields lower.

Tech Stocks Remain In Spotlight

Intel (INTC) and SK Hynix (SKHY): Shares rose over 3% in early premarket trade following reports that SK Hynix is in talks with Intel about a deal that could see the South Korean memory maker manufacture chips in America for the first time. Separately, reports suggest that SK Hynix has also resolved a internal union dispute by agreeing to pay half of profit-sharing bonuses in cash. 

Meta (META) CEO Mark Zuckerberg said he does not believe the industry needs a coordinated AI pause, adding that individual labs should slow down when safety requires it. 

Palantir (PLTR) is trending after longtime bull Dan Ives reiterated that the company could eventually reach a $1 trillion market capitalization. UBS also raised its price target to $250 from $220 on Tuesday. 

Oracle (ORCL): Retail traders look for fresh catalysts around OpenAI funding and potential cloud opportunities in Japan. 

Qualcomm (QCOM): StoneX reiterated a 'Buy' rating and Amazon hinted at purchasing up to $60 billion in AI data-center chips.

Trending Stocks

Space Stocks (RKLB, ASTS, SPCX, RDW): Pentagon officially confirmed the U.S. operates on-orbit space control weapons under its "Golden Dome" defense initiative. Separately, ASTS has secured a U.S. patent protecting thermal-management tech for its giant satellite arrays. 

SpaceX (SPCX): SpaceX says Starship Flight 14 is targeting Sept. 22, pending regulatory approval, with the mission aiming to reach orbit for the first time. Separately, Cathie Wood said that successful Starship development could materially change how investors view SpaceX’s valuation. 

Robinhood (HOOD) is on the retail radar after U.S. prosecutors reportedly charged two former employees in an alleged scheme involving confidential information and crypto-linked perpetual futures trading.

Fannie Mae (FNMA) and Freddie Mac (FMCC) are drawing attention after “Big Short” investor Michael Burry said the U.S. housing market is starting to “creak” and said that housing prices may already be falling. Burry also said the charts for the two mortgage-finance stocks “look terrible,” but he remains invested in them.

Other tickers trending on Stocktwits at the time of writing included Archer Aviation (ACHR), Crowdstrike (CRWD), Terawulf (WULF), Poet Technologies (POET), and Realloys (ALOY).

CLARITY Act Setback

The Senate failed to advance the CLARITY Act, with the procedural vote falling short of the 60 votes needed to move it forward, dealing a fresh blow to the likes of Circle (CRCL), Coinbase (COIN) and BitMine Immersion (BMNR).

Crypto executives, including Coinbase CEO Brian Armstrong and Galaxy Digital CEO Mike Novogratz, publicly criticized the outcome, while other industry figures said the failure could force regulators and companies to pursue alternative routes toward clearer rules. 

Separately, lawmakers are scheduled to vote September 16 on legislation establishing a permanent Strategic Bitcoin Reserve under the Treasury Department.

What Else To Watch Wednesday

On the economic front, investors await retail sales and import prices. 

On the earnings front, ZenaTech (ZENA) and Lennar (LEN) report today.

For updates and corrections, email newsroom[at]stocktwits[dot]com