Stock Market Today: Dow Futures Gain, Nasdaq Drops As Trump Signs Bill To End Partial Shutdown-AMD, Super Micro Computer, Eli Lilly In Focus

U.S. stock futures were fluctuating on Wednesday following Tuesday’s negative close. Futures of major benchmark indices were mixed.

President Donald Trump signed a funding deal to end the four-day partial government shutdown, though the brief closure has already triggered delays for critical economic indicators.

Meanwhile, the 10-year Treasury bond yielded 4.27%, and the two-year bond was at 3.58%. The CME Group's FedWatch tool‘s projections show markets pricing a 91.1% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were mixed in premarket on Wednesday. The SPY was up 0.11% at $690.21, while the QQQ declined 0.02% to $616.40.

Stocks In Focus

Advanced Micro Devices

• Advanced Micro Devices Inc. (NASDAQ:AMD) plunged 7.63% in premarket on Wednesday despite reporting better-than-expected fourth-quarter financial results.

• AMD maintains a stronger price trend over the short, medium, and long terms, with a solid quality ranking, as per Benzinga's Edge Stock Rankings.

Super Micro Computer

• Super Micro Computer Inc. (NASDAQ:SMCI) jumped 12.27% after its fourth-quarter earnings report, beating estimates on the top and bottom lines. It expects third-quarter adjusted EPS of 60 cents, versus the 53 cents estimate, and revenue at $12.3 billion, versus the $10.15 billion analyst estimate.

• Benzinga’s Edge Stock Rankings indicate that SMCI maintains a stronger price trend in the short term but a weaker trend in the medium and long terms, with a strong growth ranking.

Alphabet

• Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) shares rose 0.55% ahead of its earnings scheduled to be released after the closing bell. Analysts were expecting earnings of $2.63 per share on revenue of $111.31 billion.

• GOOG maintains a stronger price trend over the short, medium, and long terms with a poor value ranking, as per Benzinga's Edge Stock Rankings.

Enphase Energy

• Enphase Energy Inc. (NASDAQ:ENPH) surged 23.39% after the company released its fourth-quarter earnings report, beating estimates on the top and bottom lines.

• Benzinga’s Edge Stock Rankings indicate that ENPH maintains a strong price trend over the short, medium, and long terms, with a moderate quality ranking.

Eli Lilly

• Eli Lilly and Co. (NYSE:LLY) was 0.046% lower ahead of its earnings, scheduled to be released before the opening bell. Analysts were expecting earnings of $6.93 per share on revenue of $17.93 billion.

• LLY maintains a stronger price trend over the medium and long terms and a weak trend in the short term, with a poor value ranking, as per Benzinga's Edge Stock Rankings.

Cues From Last Session

Information technology, communication services, and health care stocks led losses on Tuesday as most S&P 500 sectors declined, though materials and energy shares managed to finish higher.

Insights From Analysts

Jeremy Siegel maintains a constructive outlook on the economy and stock market, driven by diminished political uncertainties and the nomination of Kevin Warsh for Federal Reserve Chair. Siegel views Warsh as a “decisive upgrade to Powell,” believing his leadership will be a “net positive for both bonds and equities.”

Regarding the economy, Siegel notes that while fourth-quarter GDP estimates have moderated to the “high threes” or “low fours,” growth “remains solid despite noise”.

He is not alarmed by recent “tariff-related” inflation, suggesting such effects are not “macro-defining”. He advocates for another 25-50 basis points in rate cuts to support small businesses, citing sluggish M2 money supply growth.

In the equity markets, Siegel observes a sharp rotation and a shift in the AI narrative. He predicts this will be the “year of the AI user, not the AI producer,” where returns “accrue to firms that deploy AI to boost productivity rather than those merely selling the picks and shovels.”

Overall, he remains optimistic about the medium-term outlook as major leadership and fiscal risks subside.

Upcoming Economic Data

Here's what investors will be keeping an eye on Wednesday.

• Fed Governor Lisa Cook will speak at 6:30 p.m., whereas January’s ADP Employment data will be released by 8:15 a.m. ET.

Commodities, Gold, Crypto, And Global Equity Markets

Crude oil futures were trading higher in the early New York session by 0.49% to hover around $63.53 per barrel.

Gold Spot US Dollar rose 2.12% to hover around $5,052.03 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.02% higher at the 97.4550 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 2.84% lower at $76,030.63 per coin.

Asian markets closed higher on Wednesday as India’s Nifty 50, Hong Kong's Hang Seng, China’s CSI 300, Australia's ASX 200, Japan's Nikkei 225, and South Korea's Kospi indices rose. European markets were mostly higher in early trade.

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