U.S. stock futures edged higher on Wednesday morning after major indices fell yesterday on concerns over a potential artificial intelligence (AI) bubble. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.11%, 0.12%, and 0.21%, respectively, at 8:20 a.m. EST on October 8.
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Major indices fell on Tuesday on concerns of an AI bubble, after The Information reported that Oracle’s (ORCL) cloud margins are lower than what analysts estimate. Moreover, the ongoing U.S. government shutdown is impacting investor sentiment, with no immediate signs of resolution.
In trending stocks, Joby Aviation (JOBY) stock plunged 11% in Wednesday’s premarket trading after announcing the pricing of a common stock offering, raising concerns about shareholder dilution. Meanwhile, Rocket Lab (RKLB) stock surged over 5% in premarket trading after the space company announced that it has signed a multi-launch deal with the Institute for Q-shu Pioneers of Space (iQPS). Also, AST SpaceMobile (ASTS) stock rallied 10% after announcing a deal with Verizon (VZ) to provide cellular service from space.
Meanwhile, investors are focused on Wednesday’s release of the latest Federal Reserve minutes, which could provide clues about the future path of monetary policy. Interestingly, the Gold Spot U.S. dollar price increased to nearly $4,046 per ounce as of writing, crossing the $4,000 per ounce mark for the first time amid economic uncertainty.
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