Why Are Nasdaq, S&P 500 Futures Falling Premarket? NVDA, SKHY, SPCX, TSLA, MRNA, MSTR, PURR, WMT Stocks In Focus

• Investors digested the Treasury’s move to boost long-term bond buybacks and fresh Iran-related tensions. 
• Investors will also track weekly jobless claims and Walmart earnings for clues on the labor market and U.S. consumer. 
• President Donald Trump escalated rhetoric on Iran on Wednesday, calling the standoff an “economic D-Day” and announcing new sanctions. 

U.S. stock futures were in the red early Thursday after a strong close in the previous session as Treasury yields pulled back after the U.S. Treasury announced plans to double the size of its buyback operations for longer-dated government debt. 

Meanwhile, President Donald Trump on Wednesday declared an “economic D-Day” on Iran and announced sweeping sanctions. Trump has also reportedly ordered a freeze on Iran negotiations for several weeks.

As of 4:30 a.m. ET, Nasdaq, S&P 500, Dow and Russell 2000 futures were down 0.1%, giving up overnight gains.

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

Tech Radar 

SK Hynix (SKHY) shares rose 5% in early premarket trade after it reportedly reached a tentative wage deal with the union that includes a 6.3% pay increase and a new stock-heavy profit-sharing structure. This comes a day after it announced a massive buyback. 

Nvidia (NVDA): The AI bellwether heads into earnings next week with another ‘beat-and-raise’ quarter expectations. Investors will be watching whether hyperscaler spending from Microsoft, Amazon and other customers can sustain the next leg of the AI infrastructure boom. 

Marvell Technology (MRVL) announced a custom-chip deal with Google and warrants giving the search giant the option to buy more than $12 billion of Marvell stock. Morningstar called Google the “white whale” for Marvell's custom-silicon strategy. 

Trending Stocks

SpaceX (SPCX) shares fell about 1% in early premarket trade ahead of a major share unlock. Nearly 319 million restricted shares held by employees and early investors become eligible for trading today. Elon Musk also pushed back on a report that SpaceX had attempted to acquire AI coding startup Cognition, saying the companies had not discussed anything beyond making sure Grok works well for Cognition's needs.

Tesla (TSLA): Stock fell 1% in early premarket trade after its strongest session in more than a month. A fresh Morningstar report said the Cybercab rollout could provide meaningful upside if robotaxis ultimately account for around 30% of its bull case. 

Strategy (MSTR): Shares rose 8% in early premarket trade after Bitcoin climbed back above $70,000. It also got a policy sentiment boost after President Donald Trump met with crypto executives and pushed lawmakers to advance crypto legislation. 

Other crypto equities such as COIN, BMNR, ASST also rose over 7% in early premarket trade. 

Hyperliquid Strategies (PURR): Rose 6% in early premarket trading after President Trump signaled support for bringing Hyperliquid into the U.S. in a “fully compliant and legal” manner. 

Moderna (MRNA) fell 12% in early premarket trading after a stellar rally on Wednesday, driven by positive updates on its late-stage mRNA cancer vaccine partnership with Merck (MRK).

Walmart (WMT) faces earnings test today. Investors will look for clues about the health of the U.S. consumer and pricing pressures,

Energy Fuels (UUUU): The company said its terbium oxide had been qualified for use by Japan's largest permanent-magnet manufacturer.

ONDS, UMAC, RCAT, KTOS: U.S. drone makers will be under scrutiny after reports suggest that China’s Ministry of Commerce urged the U.S. to immediately withdraw its newly announced Section 232 tariffs of up to 100% on foreign drones and components. China’s stance comes ahead of Chinese President Xi Jinping’s visit to the U.S. on September 24.  

Other tickers trending on Stocktwits at the time of writing included Webull (BULL), Aurinia Pharmaceuticals (AUPH), Wayfair Inc (W), and Sofi Technologies (SOFI). 

What Else To Watch Thursday 

On the economic front, investors will watch the release of the weekly jobless claims.

On the earnings front, beyond Walmart, Kandi Technologies Group Inc (KNDI), Bioline Rx Ltd - ADR (BLRX), Deere & Co (DE), and Flux Power Holdings Inc (FLUX) are among those reporting today.

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