US equity index futures were subdued on Wednesday as the recent tech-led rally paused and persistent macroeconomic risks weighed on sentiment. Futures on the S&P 500, Dow Jones Industrial Average, and Nasdaq 100 drifted slightly below the flatline, even after the Nasdaq 100 logged a record closing high yesterday.
Semiconductor stocks edged lower as some investors locked in profits following this week’s sharp gains, driven by renewed enthusiasm for AI after favorable early feedback on Meta’s Muse agent. Broadcom, Micron, Intel, and Lam Research were down between 1% and 2% in premarket trading.
US Treasury yields held near elevated levels as the recent pullback in energy prices stalled. Rate- and credit-sensitive sectors were largely flat, with banks extending yesterday’s steep declines; JPMorgan and Wells Fargo traded just below unchanged.
In contrast, energy stocks outperformed. Chevron, ExxonMobil, Marathon Petroleum, and Valero advanced following reports that the industry has been lobbying against President Trump’s proposal to suspend diesel exports as a means of containing domestic prices.
