U.S. stock futures pointed higher on Wednesday, driven by enthusiasm for AI-related chip stocks, while uncertainty over Iran peace talks weighed on sentiment.
Dow futures rose 224 points (0.4%), S&P 500 futures gained 24 points (0.3%), and Nasdaq 100 futures jumped 156 points (0.5%).
On Tuesday, the S&P 500 and Nasdaq Composite closed at record highs. The Dow Jones lagged, ending lower.
Chip stocks were big gainers. Micron's market value surpassed $1 trillion for the first time.
In premarket trading, Micron shares climbed over 5%. SK Hynix also joined the $1 trillion club in Asian trading.
Demand for high-end memory chips used in AI is so strong that Micron has sold out its entire annual supply.
This has boosted memory-chip prices and made Micron a favorite among institutional investors.
Deutsche Bank analysts noted: "Global sentiment has held up, but Iran talks remain uncertain."
Al Jazeera reported indirect talks between the U.S. and Iran continue, despite recent clashes. The U.S. says a shaky ceasefire holds.
U.S. Secretary of State Marco Rubio said a deal could take a few days. Reports suggest a framework agreement is near, including an extended ceasefire and reopening of the Strait of Hormuz.
Brent crude fell 2.8% to $96.77 a barrel, down from recent peaks above $100. Gold and the U.S. dollar weakened slightly.
PDD Holdings shares dropped premarket after quarterly revenue missed estimates.
