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Nasdaq futures rise as CoreWeave and Super Micro beat expectations
CoreWeave shares surged more than 17% pre-market after the company reported stronger-than-expected Q2 results, lifted full-year revenue guidance, and said backlog was $104 billion at quarter end.
U.S. Nasdaq 100 E-mini futures climbed 0.7% on Wednesday morning, supported by early strength in AI infrastructure names following earnings from CoreWeave and Super Micro Computer, according to Yahoo Finance.
CoreWeave shares jumped more than 17% in pre-market trading after the cloud-computing company reported stronger-than-expected Q2 results, raised its full-year revenue guidance, and disclosed a $104 billion backlog at the end of the quarter. Super Micro Computer rose more than 8% pre-market after posting stronger-than-expected FQ4 adjusted EPS and issuing an FQ1 revenue forecast that fell well below Wall Street estimates, renewing investor focus on demand for AI infrastructure.
While equities sentiment got a boost from the earnings, traders also weighed global and macro signals. WTI crude prices were mixed as investors assessed prospects for a deal to reopen the Strait of Hormuz amid tougher positions from Washington and Tehran, with Pakistan noting the deadline for a memorandum of understanding could be extended.
On the U.S. economic front, attention turned to upcoming inflation data for clues on the path of interest rates after Wall Street ended the prior session lower, including a roughly 1.7% month-over-month decline in U.S. July existing home sales to a seasonally adjusted annual rate of 4.06 million units, according to data cited by Yahoo Finance.
Latest closeWTI crude $82.68 ▼0.6%|Nasdaq Comp. 26,588.49 ▲0.5%