This content was published on
August 12, 2026 - 11:35
4 minutes
(Bloomberg) — Equity futures advanced as upbeat results from AI infrastructure firms revived appetite for tech stocks with traders awaiting a key US inflation reading later Wednesday.Contracts on the Nasdaq 100 index rose 0.6% as CoreWeave Inc. surged 18% in premarket trading on stronger-than-expected sales, while Super Micro Computer Inc. gained 8.6% after its revenue forecast topped estimates. Futures on the S&P 500 were up 0.2%. Treasuries held steady, with the yield on the benchmark 10-year note at 4.69%.Swinging oil prices have added to concern that renewed energy-price pressures could prompt a more hawkish response from the Federal Reserve. The US and Iran appeared to harden their positions on Strait of Hormuz negotiations, with President Donald Trump claiming the US had “total control” over the waterway.“A higher inflation reading would likely boost expectations of a hike in September and December and thereby putting pressure on equity and bond prices,” said Stephan Kemper, chief investment officer at BNP Paribas Wealth Management Germany.Wednesday’s headline inflation gauge probably rose 0.1% in July following a 0.4% decline in the prior month, according to a Bloomberg survey of economists. Traders are pricing in a roughly 50% chance of a quarter-point increase next month.Tech OptimismStrong earnings growth and a solid economy should help the S&P 500 withstand modestly higher interest rates and inflation challenges, according to RBC Capital strategists, who maintained their positive view on the benchmark over the next year.The latest slew of results was welcomed by investors looking for evidence AI infrastructure companies can deliver the earnings needed to propel the tech rally further.“The reports from CoreWeave and Super Micro are further evidence that AI infrastructure demand remains strong,” said Florian Ielpo, head of macro at Lombard Odier Investment Managers. However, he cautioned that strong earnings don’t automatically translate into higher valuations, especially given elevated financing costs.Elsewhere, the yen was little changed around 159.40 per dollar. Investors are watching the currency as it approaches the key level of 160, which may trigger Japanese authorities to intervene again. The dollar weakened against most of its Group-of-10 peers.Corporate News:ABN Amro Bank NV reported quarterly profit that beat analysts’ estimates thanks to higher fees and growth in lending income, Natarajan Chandrasekaran has stepped down as chairman of Tata Sons Pvt. ahead of a potentially contentious annual shareholder vote, CNBC-TV18 reported. Vestas Wind Systems A/S lifted its profit guidance for the year after a jump in orders for its wind turbines. Some of the main moves in markets:StocksThe Stoxx Europe 600 was little changed as of 10:20 a.m. London time S&P 500 futures rose 0.2% Nasdaq 100 futures rose 0.6% Futures on the Dow Jones Industrial Average were little changed The MSCI Asia Pacific Index rose 0.9% The MSCI Emerging Markets Index rose 1% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1541 The Japanese yen was little changed at 159.22 per dollar The offshore yuan was little changed at 6.7455 per dollar The British pound was little changed at $1.3520 CryptocurrenciesBitcoin rose 0.3% to $63,884.82 Ether rose 0.7% to $1,894.45 BondsThe yield on 10-year Treasuries declined one basis point to 4.67% Germany’s 10-year yield was little changed at 3.15% Britain’s 10-year yield was little changed at 4.96% CommoditiesBrent crude rose 0.3% to $89.22 a barrel Spot gold rose 1% to $4,415.45 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Ruth Carson, Elaine Lai and Anand Krishnamoorthy.©2026 Bloomberg L.P.
