U.S. stock futures jumped on Wednesday as Treasury yields fell after the Treasury Department announced an increased buyback operation for longer-term debt.

Dow Jones Industrial Average(DJI.US) futures added 305 points, or 0.6%, while S&P 500 index(SPX.US) futures traded up 0.5%. NASDAQ-100(NDX.US) futures also gained 0.5%.

Oracle Corporation(ORCL.US) fell 2% after The Wall Street Journal reported, citing sources, that OpenAI disclosed second-quarter results that disappointed investors. While revenue expanded by 18% between the first and second quarter, losses grew as well.

Conversely, Moderna(MRNA.US) was a major winner in the premarket, as shares popped more than 80% after the company’s and Merck’s experimental cancer vaccine showed success in a late-stage trial. Merck & Co., Inc.(MRK.US) shares jumped more than 7%, supporting Dow futures.

The major U.S. stock averages fell on Tuesday, with the S&P 500 posting its third consecutive loss, as sovereign bond yields around the globe hit multi-year highs. Japan’s 10-year bond yield reached its highest level in three decades. Rates on France’s 30-year bond reached the highest going back to 2008. The German 30-year bund yield hit its highest point since 2011, and the 30-year Treasury yield notched a new 19-year high.

Still, “the economy is strong enough,” Adam Parker, founder and CEO at Trivariate Research, told CNBC’s “Closing Bell” on Tuesday. “I think the earnings and cash flows from these big companies are strong enough that they’ll power through any kind of scare that happens around this.”

The latest Federal Open Market Committee meeting minutes are set to release Wednesday afternoon. Investors will likely take a keen eye to the minutes, given the sharp divisions within the central bank. At the July meeting, there were three dissenters voting to hike rates, a division that investors will seek greater detail on.

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As of 03:57 PM Riyadh Time, top pre-market movements are as follows:

Fed Minutes Key After Warsh's Silence?

With Kevin Warsh reducing guidance, Aug 19 FOMC minutes become the sole text for gauging rate-hike divisions. Read in detail>>

Anthropic Pre-IPO Banks Angle for Roles

• Anthropic's pre-IPO credit line is growing, and banks are angling for underwriting roles, signaling investor confidence ahead of a potential listing. Read in detail>>
• Dario Amodei may receive super-voting shares before Anthropic's IPO, mirroring Mark Zuckerberg and Elon Musk's control tactics. Read in detail>>

US Housing Starts Crash 12.4% in July

Private starts fell to 1.239M annualized rate, with single-family dropping 9.9% to 808K units, the lowest since Nov 2022; permits rose 5.0% to 1.443M.

Super El Niño Could Slam Global Growth

El Niño threatens food and energy supplies, potentially stoking inflation and slowing economic growth if it sets a strength record.
 

SK Hynix unveils US$28.6B buyback

• South Korea's SK hynix Inc. Sponsored ADR(SKHY.US) announced a US$28.6 billion share buyback plan, boosting investor sentiment amid memory chip demand.
• SKHY shares jumped 6% in premarket trading after announcing a US$29 billion share repurchase program. Read in detail>>
• ARK Invest's Cathie Wood ARK Innovation ETF(ARKK.US) avoids SK Hynix and Micron Technology, Inc.(MU.US) despite price surge, citing memory as the semiconductor industry's most cyclical segment. Read in detail>>
• Cathie Wood's Ark sold Advanced Micro Devices, Inc.(AMD.US) again and bought US$7.7 million of another chipmaker's shares. Read in detail>>

Nvidia H200 Chips Flow To China Again

ByteDance and Tencent each receive 10,000 H200 chips, bypassing US restrictions via third-party channels (NVIDIA Corporation(NVDA.US)). Read in detail>>

Tenon Medical Soars 77% After Hours

Tenon Medical, Inc.(TNON.US) shares jumped 77% in extended trading late Monday following news of a product approval and partnership deal. Read in detail>>

Top Wealth Group Stock Soars 39%

Top Wealth Group Holding Ltd.(TWG.US) shares jumped over 39% after hours on heavy volume, likely due to investor speculation amid surging caviar demand. Read in detail>>

Unitree's IPO Explodes 629%

• Unitree Robotics surged 629% on Shanghai debut, briefly valuing it at US$66 billion, rivaling Tesla Motors, Inc.(TSLA.US) in humanoid robots. Read in detail>>
• SpaceX(SPCX.US) shares near US$143, but professor Scott Galloway values them at US$10-$30 due to high risks, per Benzinga. Read in detail>>

Inno Q3 Loss Shrinks Wildly

Inno Holdings, Inc.(INHD.US) posted US$-0.70 EPS vs US$-144.00 YoY, sales up 90% to US$2.068M from US$1.086M. Read in detail>>

Nebius Launches US$4.50B Convertible Notes

NEBIUS(NBIS.US) announced a US$4.50B private offering of convertible senior notes.

Musk Doubts OpenAI's Ohio Data Center Timeline

Elon Musk warns the NVIDIA Corporation(NVDA.US)-backed US$105 billion Ohio data center for OpenAI will take much longer to come online than expected. Read in detail>>

Trump's Policies Strike Bond Market Fatal Blow

Economist says Trump's actions crossed a red line, triggering militant forces to challenge Treasury Secretary Bessant's market stability.

Google AI Replaces Deployment Engineers

Alphabet Inc. Class C(GOOG.US) says its artificial intelligence can perform frontline deployment engineering tasks, potentially reducing human workforce needs.

Hims & Hers beats Q4, raises outlook

Hims & Hers Health(HIMS.US) earned US$4.11 adjusted EPS, surpassing estimates by US$1.77, with US$26.54B revenue beating by US$400M, lifting FY guidance.

Lowe's Beats EPS, Misses Revenue

Lowe's Companies, Inc.(LOW.US) earned US$4.40 non-GAAP EPS, beating by US$0.18, while revenue of US$25.96B fell short by US$150M.

Estée Lauder Stock Jumps 9% On Earnings Beat

Estee Lauder Companies Inc. Class A(EL.US) rose ~9% in premarket Wednesday as Q4 sales beat and fiscal 2027 adjusted operating-margin outlook improved via raised guidance.

Datavault AI Misses Q4 Estimates

Datavault AI(DVLT.US) posted GAAP EPS of US$-0.12, missing by US$0.09, and revenue of US$6.7M, missing by US$23.55M.

TJX Beats Q2, Raises Outlook

TJX Companies Inc(TJX.US) non-GAAP EPS hit US$1.22 (beat by US$0.03) on revenue of US$15.18B (beat by US$20M), lifting FY guidance.

Viking Holdings Beats Q4 Estimates

Viking Holdings Ltd(VIK.US) reported Non-GAAP EPS of US$1.31, beating by US$0.07, with revenue of US$2.19B, topping by US$50M.

Analog Devices Beats Q1 Estimates

Analog Devices, Inc.(ADI.US) reported non-GAAP EPS of US$3.45, beating by US$0.11, with revenue of US$4.02B), ($90M above expectations.