U.S. stock futures were little changed on Wednesday evening after Wall Street ended modestly higher, as investors shrugged off worries around stretched tech valuations and focused on the Supreme Court hearing on President Donald Trump’s tariffs.
S&P 500 Futures were unchanged at 6,823.75 points, while Nasdaq 100 Futures ticked down 0.1% to 25,717.75 points by 19:28 ET (00:28 GMT). Dow Jones Futures were largely steady at 47,445.0 points.
Traders shrug off valuation concerns In the regular session, the S&P 500 rose 0.4%, the NASDAQ Composite gained 0.7% and the Dow Jones Industrial Average added 0.5%, rebounding from Tuesday’s sharp selloff in megacap tech shares.
The session marked a modest recovery after warnings from top Wall Street bank executives a day earlier about the sustainability of the recent rally had sparked a wave of profit-taking.
Despite lingering worries about lofty tech valuations, investors appeared encouraged by strong corporate results. Analysts said the pullback in high-flying AI and semiconductor names looked more like a brief correction than the start of a deeper downturn.
Attention on Wednesday also turned to Washington, where the Supreme Court held a hearing examining whether Trump’s sweeping tariffs violated U.S. law. Justices questioned whether the president had exceeded his authority, casting doubt on the legality of his trade measures.
The case, which could reshape presidential trade powers, carries major implications for U.S.-China relations and global markets.
Snap, Arm Holdings, LYFT climb post earnings
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. McDonald’s (NYSE:MCD) stock gained over 2% after the burger giant’s U.S. restaurants reported better-than-expected same-store sales growth, even as quarterly earnings fell short of expectations.
Novo Nordisk (NYSE:NVO) fell 1% after it trimmed its full-year profit and sales forecasts, while Humana Inc (NYSE:HUM) stock slumped after the insurer reported lower third-quarter profit and slashed its full-year earnings guidance
In extended trading, Snap Inc (NYSE:SNAP) surged 15% after the social media firm beat quarterly revenue estimates and narrowed its net loss.
Arm Holdings (NASDAQ:ARM) jumped 4% after the bell as the British chip designer forecast revenue for the current quarter above Wall Street estimates, citing robust demand for AI-related compute systems.
Ride-hailing platform LYFT Inc (NASDAQ:LYFT) climbed 3.5% after reporting higher quarterly revenue and returning to profitability.
