TLDR
- U.S. stock futures were mixed Wednesday as investors waited for an inflation report that could shape the Fed’s next move.
- BlackRock rose 3.2% after a third-quarter profit beat and assets under management of $15.5 trillion.
- GameStop gained after CEO Ryan Cohen bought 844,130 shares, lifting his stake to about 10%.
- Bank of America fell after regulators announced more than $1.21 billion in penalties.
- Liquidia jumped 46.7% on a settlement with United Therapeutics, while ASML and other chip stocks stayed under pressure.
U.S. stock futures were mixed on Wednesday as investors waited for a key inflation report. The data could shape the Federal Reserve’s next move.
Dow futures rose 151 points, or 0.3%. S&P 500 futures gained 13 points, or 0.2%, while Nasdaq futures were mostly unchanged.
Bank of America, Morgan Stanley and State Street were set to report earnings before the opening bell. Tuesday’s bank results had underwhelmed the market.
Chip and AI Stocks Under Pressure
ASML was trading flat before the open. The Dutch chip-equipment maker raised its guidance and beat analysts’ third-quarter earnings target.
Even so, chip stocks have been weak. The PHLX Semiconductor Index has fallen five days in a row.
Coherent, Corning, Lumentum, Marvell, Sandisk, Seagate and Western Digital were all lower in premarket trading.
Company News Moving Shares
BlackRock rose 3.2% after its third-quarter profit beat expectations. Assets under management climbed 15% from a year ago to $15.5 trillion.
GameStop shares rose after filings showed CEO Ryan Cohen bought 844,130 Class A shares on October 13. The stock was on pace for its highest close in more than 16 months.
Cohen spent about $22.8 million at prices between $26.75 and $27.00 per share. His direct holdings are now near 42.5 million shares.
Bank of America slipped 1.7% in premarket trading. U.S. regulators announced more than $1.21 billion in penalties against the bank.
The package includes a record Treasury action tied to anti-money laundering and sanctions violations. The bank was due to report third-quarter results before the open.
Liquidia surged 46.7% after settling with United Therapeutics. The deal resolves six lawsuits for a net payment of $380.7 million.
Alibaba’s U.S.-listed shares rose nearly 2% after it unveiled its Qwen Glasses N1 smart glasses. Prices start at 2,999 yuan, or about $450.
Enovix climbed 10% after announcing an initial order for 100,000 battery units from a drone systems provider. Deliveries are set for the first half of 2027.
Grupo Televisa gained 4.5% after announcing a $2 billion deal to buy AT&T’s Mexican wireless business. It is a 50-50 joint venture with Fintech Holdings.
The deal is expected to close in the first quarter of 2027, pending approval from Mexican regulators. AT&T Mexico serves about 24.7 million mobile subscribers.
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