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U.S. equity futures ticked higher early Wednesday as the risk-off tone that dominated the start of the week eased. Bitcoin (COIN:BTCUSD) rebounded sharply above $90,000, government bond markets steadied, and Marvell Technology (NASDAQ:MRVL) jumped in after-hours trading following news of a major acquisition and upbeat guidance. Investors are also watching fresh private-sector hiring data, while oil prices edge up amid renewed diplomatic talks over the Russia-Ukraine conflict.
U.S. futures were modestly higher, suggesting the recent turbulence in cryptocurrencies and bonds may be stabilizing.
At 02:27 ET, Dow futures rose 105 points (0.2%), S&P 500 futures gained 15 points (0.2%), and Nasdaq 100 futures added 63 points (0.2%).
Major Wall Street indices advanced on Tuesday, largely shaking off the early-week bout of caution. Focus has now shifted back to expectations of a Federal Reserve rate cut later this month. According to CME FedWatch, markets assign roughly an 87% probability that policymakers will lower rates by 25 basis points at their December 9–10 meeting—despite lingering inflation pressures and a softening labor market.
Separately, President Donald Trump said Tuesday he will announce his nominee for Federal Reserve Chair in early 2026, adding that he has narrowed his selection to a single candidate. White House economic adviser Kevin Hassett is widely viewed as the frontrunner, and is expected to champion a more accommodative policy stance.
Bitcoin bounced back above $90,000 after a sharp early-week decline.
At 02:58 ET, the cryptocurrency was up 6.9% at $93,016.50, marking a two-week high—though still well below the record set roughly six weeks ago.
A wave of selling had swept through global bonds and digital assets earlier this week as investors braced for a possible interest-rate hike from the Bank of Japan. That move triggered sharp losses in Bitcoin and weighed on equities.
The decline hit firms heavily exposed to Bitcoin, including Michael Saylor’s Strategy (NASDAQ:MSTR), which disclosed it holds around 650,000 BTC—roughly 3.1% of all coins that will ever exist. The company cut its annual profit outlook in response to recent price moves. Shares sank Monday before recovering some ground on Tuesday and inching higher after hours.
Marvell Technology confirmed a multibillion-dollar acquisition of semiconductor startup Celestial AI, expanding its compute capabilities as demand surges across the artificial intelligence sector.
The $3.25 billion deal gives Marvell access to Celestial’s photonics technology, which uses light instead of electrical signals to connect AI accelerators and memory chips—an area expected to be broadly adopted by cloud providers as early as 2027.
The company expects the acquisition to meaningfully boost revenue beginning in the second half of fiscal 2028. CEO Matt Murphy also told investors Marvell anticipates about $10 billion in revenue next fiscal year, driven largely by a projected 25% jump in data-center sales. Custom-chip revenue may grow around 20%.
Shares of Marvell, down sharply this year due to competitive and AI-valuation concerns, surged more than 8% in after-hours trading.
Markets will closely watch the private-sector hiring report from ADP for November. Economists expect an increase of just 5,000 jobs—down from 42,000 in October.
Labor-market data has been central to rate-cut expectations, but visibility is unusually murky due to the recent federal government shutdown, which delayed or canceled major releases. October’s nonfarm payrolls report was scrapped entirely, and its data will instead be rolled into November’s numbers, meaning October’s unemployment rate will never be published.
The lack of updated government figures has forced investors and policymakers to rely more heavily on ADP’s survey.
Crude prices edged up as hopes for a quick peace agreement between Russia and Ukraine faded, keeping supply risks elevated. Brent gained 0.6% to $62.80 a barrel, while WTI rose 0.7% to $59.06.
A lengthy meeting Tuesday between Russian President Vladimir Putin and U.S. envoys Steve Witkoff and Jared Kushner ended without progress toward a peace framework. Markets are watching for signs that a diplomatic breakthrough could lead to reduced sanctions on Russia—and potentially increase global oil supply.
U.S. crude inventories also climbed, adding to oversupply worries, after API data showed a 2.48 million-barrel jump last week. Official figures from the U.S. Energy Information Administration are due later Wednesday.
Marvell Technology stock price
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U.S. stock index futures were little changed early Thursday, suggesting Wall Street may open without a clear direction following two sessions of mostly upward movement. After the sharp swings seen earlier in the week, many traders appear ready to step back and reassess the short-term outlook. Markets retreated on Monday after the prior week’s strong […]
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