Nasdaq-100 futures fell 0.3% Wednesday, a day after the Nasdaq closed at a record high. Micron Technology and Sandisk both pulled back from buy points they cleared in Tuesday's rally, and Dow Jones and S&P 500 futures traded lower as well.
Nasdaq-100 futures dropped 0.3% in early Wednesday trading, a day after the Nasdaq hit both a record intraday and closing high, finishing at 27,244.28. Dow Jones Industrial Average futures fell 0.3%, while S&P 500 futures lost 0.1% in early trades.
Among exchange traded funds, the Invesco QQQ fell 0.2% in early trading. The SPDR S&P 500 lost 0.1% before Wednesday's opening bell.
Micron, Sandisk slip after buy-point breakouts
Micron Technology fell 1% premarket, threatening to snap a four-day winning streak. Shares cleared a cup-with-handle buy point at 1,042.40 with a 5% rally Tuesday.
Sandisk shares slipped 1.2% early Wednesday. The stock gave back part of a 6.8% rally that pushed it above a 1,807.38 buy point Tuesday.
Dow movers: Chevron gains, Nvidia and Caterpillar slip
Chevron climbed 0.8% premarket as crude oil rebounded. West Texas Intermediate futures rose near $90.85 a barrel. Apple shares added 0.4%, moving closer to a cup-base entry at 344.57.
Caterpillar and Nvidia each lost nearly 1% in early trading. Nvidia threatened to snap a six-day winning streak.
Earnings and economic data ahead
Cracker Barrel shares surged nearly 10% premarket, while General Mills stock added a fraction on earnings. KB Home shares declined nearly 3%. Paychex stock moved up more than 1% in early trade.
Later Wednesday, S&P Global's September manufacturing and services indexes are due at 9:45 a.m. ET. The manufacturing index is expected to dip to 53.6 from 53.9 in August, while the services index is seen at 56.0, down from 56.8.
Elsewhere, the 10-year Treasury yield ticked higher to 4.98%. Bitcoin slipped to around $85,500.
Source: Investor's Business Daily
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