- Futures up: Dow 0.23%, S&P 500 0.1%, Nasdaq 0.06%
- Super Micro drops after missing Q4 estimates
- AMD data center results disappoint, shares down
Aug 6 (Reuters) – Wall Street was poised for a steady start on Wednesday, as ongoing optimism about Federal Reserve interest rate cuts kept markets afloat and investors assessed a fresh wave of corporate earnings.
At 8:15 a.m. ET, S&P 500 E-minis were up 7.25 points, or 0.1%, Nasdaq 100 E-minis were 14.5 points, or 0.06%, higher and Dow E-minis were up 103 points, or 0.23%.
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Advanced Micro Devices (AMD.O), opens new tab dropped 5.4% in premarket trading after the chipmaker reported disappointing revenue from data center, an artificial intelligence chip segment that investors have been betting for higher growth.
AI server maker Super Micro (SMCI.O), opens new tab also underwhelmed as it missed fourth-quarter revenue estimates, sending its shares plunging 17%. Shares of rivals Dell Technologies (DELL.N), opens new tab and HP Enterprise (HPE.N), opens new tab fell 3% and 1.4%, respectively.
Uber (UBER.N), opens new tab added 1.3% after unveiling a $20 billion stock buyback program and forecasting third-quarter bookings above Wall Street estimates.
Walt Disney (DIS.N), opens new tab posted better-than-expected quarterly results and raised its full-year earnings guidance, but its shares fell 2.2%.
Airbnb , DoorDash (DASH.O), opens new tab and Lyft (LYFT.O), opens new tab will report their results after the market closes.