Retail sentiment on Stocktwits remained ‘bullish’ for SPY, while it remained ‘neutral’ for QQQ.
- Investors turned their attention from soft jobs data to a slate of Federal Reserve speakers.
- Retail traders piled into high-volatility names ranging from Tilray to Tesla and silver-linked stocks.
- Retail sentiment on Stocktwits remained bullish for SPY, while it remained neutral for QQQ.
U.S. stock futures were slightly higher early Wednesday, as investors moved on from Tuesday’s disappointing jobs data to a packed schedule of Federal Reserve officials’ speeches later in the day.
As of 3:30 a.m. ET on Wednesday, the Nasdaq 100 futures, S&P 500 futures, and the Russell 2000 futures were up 0.1%, while Dow futures were marginally higher.
On Stocktwits, however, retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, was ‘bullish’ and that toward the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq 100 Index, remained ‘neutral’ early Wednesday, amid high message volumes.
Stocks On Trending Watchlist
Tilray (TLRY) was the top-trending stock on Stocktwits as investors expect an executive order from President Donald Trump directing federal agencies to reclassify marijuana as a less dangerous drug.
Tesla (TSLA) is trading near all-time highs after CEO Elon Musk confirmed driverless car testing in Austin. In other news, California’s DMV says it has accepted an administrative judge’s recommendation to hit Tesla with a 30-day sales suspension in the state over allegedly misleading Autopilot/FSD marketing, but is giving Tesla 90 days to comply before any suspension would actually take effect.
Robinhood Markets (HOOD) is betting big on prediction markets, positioning the new platform as a long-term growth engine even as core trading volumes cool.
Amazon.com Inc (AMZN) is on the retail radar as OpenAI is in early talks to raise at least $10B from from the e-commerce giant at a valuation north of $500B, per news reports.
Warner Bros. Discovery (WBD), Paramount Skydance Corp. (PSKY), and Netflix Inc. (NFLX) remain in focus following news reports that the company plans to urge shareholders to reject PSKY’s takeover bid and instead back its existing deal with Netflix.
Watch out for defense stocks such as BAE Systems (BAESY), Boeing (BA), GE Aerospace (GE), General Dynamics (GD), HII (HII), L3Harris Technologies (LHX), Lockheed Martin (LMT), Northrop Grumman (NOC), and RTX (RTX). Reports suggest that the White House is planning an executive order that would restrict share buybacks, executive pay, and dividends for defense contractors operating over budget and with delays.
Children’s Place (PLCE) shares tumbled after a significant earnings miss in Q3.
In the earnings corner, General Mills, the parent of brands such as Pillsbury and Betty Crocker, will report before the bell. Meanwhile, chip giant Micron Technology (MU) reports after the bell today.
Keep an eye on energy stocks following the spike in crude oil prices, as President Trump ordered a blockade of Venezuelan tankers.
While Hycroft Mining Holding Corporation (HYMC), First Majestic Silver Corp (AG), and iShares Silver Trust (SLV) are seeing a spike in retail interest on the back of a surge in silver prices to record levels.
Software developer Freshworks also remains on the radar. Reuters reported that the company is exploring acquisitions, including AI firms, backed by more than $800 million in cash.
Google (GOOGL) Waymo is reportedly in talks to raise more than $15B at a valuation near $100B, roughly double its October 2024 round above $45B, in a deal led by Alphabet.
Key Catalysts To Watch Out For
On the economic front, Federal Reserve Governor Christopher Waller and New York Fed President John Williams are slated to speak this morning.
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