Key Moments
- U.S. equity futures were under broad pressure early Wednesday, with Nasdaq 100 futures down 328 points, or 1.2%, by 04:53 ET (08:53 GMT).
- Chewy and Cracker Barrel Old Country Store advanced in premarket activity after both reported stronger-than-expected revenue and outlook metrics.
- AI-related stocks and semiconductor names faced renewed selling pressure as investors reassessed growth expectations.
Index Futures Retreat Ahead of Inflation Data
U.S. stock futures traded sharply lower on Wednesday as market participants braced for a key inflation report and evaluated new military action in the Middle East alongside persistent questions about the durability of the artificial intelligence-driven rally.
By 04:53 ET (08:53 GMT), Dow futures had declined by 281 points, or 0.6%. S&P 500 futures were down 51 points, or 0.7%, while Nasdaq 100 futures slipped 328 points, or 1.2%.
Pressure on AI and Semiconductor Names
Major chipmakers were under renewed pressure in premarket trading. After closing lower on Tuesday, shares of Nvidia, Micron, Intel, and Qualcomm were all indicated to open weaker, reflecting a broader pullback in AI-related exposure.
Notable Premarket Movers
Several individual stocks registered sizable moves ahead of the opening bell, driven by earnings updates, guidance revisions, and competitive developments.
| Company | Move/Direction | Key Driver |
|---|---|---|
| Cracker Barrel Old Country Store | Surged | Increased annual revenue forecast and exceeded quarterly earnings expectations |
| Core & Main | Edged lower | Reported flat fiscal first-quarter sales and reiterated full-year sales guidance |
| Chewy | Spiked | Posted first-quarter revenue above Wall Street estimates |
| Devon Energy | Rose | Raised annual production outlook and detailed plans to concentrate its portfolio on Permian Basin assets |
| Old Dominion | Sank | Faced pressure after a news report that Amazon expanded its less-than-truckload freight service to all U.S. destinations |
| Hinge Health | Advanced | Boosted full-year revenue guidance |
| Dianthus Therapeutics | Tumbled | Peer Sanofi halted a late-stage trial of an experimental rare autoimmune disorder treatment due to efficacy concerns |
Company-Specific Highlights
Cracker Barrel Old Country Store shares climbed after the company increased its full-year revenue outlook and reported quarterly earnings that exceeded projections.
Meanwhile, Core & Main slipped as the U.S. water infrastructure distributor reported flat fiscal first-quarter sales and maintained its existing full-year sales guidance.
Chewy rallied after the pet-focused e-commerce company delivered first-quarter revenue that surpassed Wall Street forecasts.
In addition, Devon Energy moved higher in premarket trading following an upgrade to its annual production forecast and an updated strategic emphasis on assets in the Permian Basin.
Old Dominion came under pressure after a news report indicated that Amazon had broadened its less-than-truckload freight offering to cover all destinations in the United States, intensifying competitive concerns.
Hinge Health gained ground after the digital health-care company raised its full-year revenue guidance.
Finally, Dianthus Therapeutics dropped sharply after Sanofi halted a late-stage study of an experimental treatment for a rare autoimmune condition due to concerns about the drug’s effectiveness.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
