Dow, S&P 500 Futures Steady After Tech Rout And Iran Tensions: Why SMCI, AMD, NVDA, NVO, PYPL Are On Traders' Radar Today

• Dow and S & P futures edged higher as Nasdaq futures lagged after a tech-led selloff in the prior session.
• Technology stocks weighed on markets, with losses in major software and semiconductor companies.
• Geopolitics and data are in focus, with oil rising on Middle East tensions.

U.S. stock futures steadied early Wednesday after technology shares dragged major indexes lower in the previous session, as markets shifted focus to earnings ahead and assessed geopolitical tensions.

As of around 12:00 a.m. ET, Nasdaq 100 futures were down about 0.1%, while S & P 500 and Dow futures added about 0.1% each.

On Stocktwits, retail sentiment toward the SPDR S & P 500 ETF Trust was 'bearish' amid 'high' message volume. Sentiment toward the Invesco QQQ Trust was 'bullish' with 'high' volume, while sentiment toward the SPDR Dow Jones Industrial Average ETF Trust was also 'bullish' amid 'high' message volume.

Wall Street's Market Drivers On Tuesday

In the prior session, the Dow Jones Industrial Average slipped nearly 167 points, or 0.3%, after touching a fresh record earlier in the day. The S & P 500 fell about 0.8%, while the Nasdaq Composite dropped 1.4%.

Meanwhile, Chipotle Mexican Grill shares slid nearly 6% after the company reported declining traffic for a fourth straight quarter and guided for flat same-store sales growth in 2026. 

Geopolitical headlines also remained in focus after the U.S. military said it shot down an Iranian drone near a U.S. aircraft carrier in the Arabian Sea, while Iranian gunboats were reported to have approached a U.S.-flagged tanker close to the Strait of Hormuz.

Trending Stocks To Watch

Super Micro Computer (SMCI): Shares jumped nearly 7% after hours after the company posted a 122% surge in Q2 net sales to $12.7 billion and issued third-quarter revenue guidance above Wall Street estimates. 

PayPal Holdings (PYPL): Shares rose more than 1% after hours despite reporting quarterly results that missed estimates and news of a CEO transition, with HP Inc. CEO Enrique Lores set to take the top role in March.

Novo Nordisk (NVO): Shares fell nearly 3% after hours after the company forecast a 5% to 13% decline in fiscal 2026 adjusted sales, citing pricing pressure, competition, and patent expirations in some markets.

Advanced Micro Devices (AMD): Shares slid about 8% after hours despite record quarterly results, as the company signaled a revenue decline for the upcoming quarter.

Nvidia (NVDA): Shares fell nearly 3% after hours after Bloomberg reported the company is nearing a $20 billion investment in OpenAI, part of a broader funding round that remains under discussion.

Broader Markets

In broader markets, the 10-year U.S. Treasury yield was little changed near 4.27%. Gold rebounded above $5,000 an ounce, while silver also advanced after a sharp recent selloff. Oil prices moved higher, with Brent crude trading near $68 a barrel and U.S. crude around $64.

Asian markets were weaker on Wednesday, tracking losses in U.S. markets. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2%, while Japan's Nikkei 225 fell 1.2%.

Looking ahead, traders are watching ADP employment, the S & P final U.S. services PMI, ISM services data, and remarks from Fed Governor Lisa Cook. Earnings remain in focus, with Alphabet due to report on Wednesday and Amazon expected on Thursday.

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