US Futures Steady After Nasdaq Hits Fresh High

US stock futures were little changed on Wednesday after the tech-heavy Nasdaq Composite reached a fresh record in the previous session, supported by gains in AI infrastructure companies. Falling oil prices and lower bond yields also offered support to equities, fueled by hopes of a significant de-escalation in the US-Iran conflict. In regular trading on Tuesday, the Nasdaq Composite rose 0.45%, while the S&P 500 finished flat. The Dow declined 0.36%. Strong reception for Meta’s Muse AI agent fueled renewed optimism around the AI trade. Anthropic is also set to launch a new AI model capable of handling a broad range of business tasks at a lower cost, ahead of its closely watched Wall Street debut. Investors now turn to fresh earnings reports on Wednesday from Cintas, Paychex and General Mills, among others, for further insights into the health of corporate America.

The Dow Jones Index dropped 185 points or 0.36 percent on Tuesday to close at 51864 points. Losses were led by Cisco Systems (-4.50%), JPMorgan (-3.35%) and American Express (-2.62%). Offsetting the fall, top gainers were Amgen (4.33%), Home Depot (2.74%) and Honeywell International (2.58%).

The Nasdaq gained 0.5% to close at a record 27244 on Tuesday, while the S&P 500 finished flat and the Dow shed 185 points. Another strong session for the AI trade lifted AI infrastructure companies, with the latest catalyst being the strong reception for Meta’s Muse AI agent. Meanwhile, Anthropic is releasing a new AI model designed to handle a wide range of business tasks at a lower cost, ahead of its highly anticipated Wall Street debut. Heavyweight chipmakers lifted the Nasdaq, with Nvidia up 0.7%, Micron rising 5%, and Sandisk jumping 6.8% following an upgrade from Rosenblatt. The S&P 500 pared earlier losses after President Trump said US officials had a “very good” meeting with Iranian representatives. Manufacturer stocks gained, with Applied Materials up 1.8%. Meanwhile, a selloff in bank shares weighed on the Dow, with JPMorgan falling 3.4% and Bank of America dropping 3%.