Futures Steady at Record Highs as AI Boom Powers Tech and Fed Takes Center Stage

 StocksRunner
 
  StocksRunner
 
Follow  Message
 
 
 
Find out what happening right now and get all the pieces of the puzzle on important data activity before the major news sources break the story and see what are the trends
 

•  09 Oct 2025
 

•   AMD  
   
  -2.54%
•   COIN  
   
  -0.64%
•   COST  
   
  +2.60%
•   DAL  
   
  +4.41%
•   DELL  
   
  -5.46%

The SPX closed at an all-time high yesterday, marking eight gains in the last nine trading sessions, while NDAQ crossed 23,000 points for the first time in history. Futures are holding relatively steady this morning, with the S&P 500 down about 0.2%, Nasdaq futures hovering near opening levels, and Dow futures climbing 0.1%. The tech-heavy rally continues to be powered by artificial intelligence enthusiasm, particularly after Nvidia NVDA CEO Jensen Huang declared that "demand for computing has risen dramatically this year," reinforcing optimism across the technology sector.

$TSM Taiwan Semiconductor delivered blockbuster preliminary results for the third quarter, showing revenue jumped roughly 30% year-over-year and beating market expectations. The world's largest chipmaker continues to demonstrate the explosive demand for advanced chips powering AI systems, cementing its leadership position in the fastest-growing segment of the technology industry. This strong performance from $TSM adds further validation to the AI infrastructure boom that's been driving tech valuations higher throughout 2025.

$AMD Advanced Micro Devices is up another 0.9% in premarket trading after surging 11% yesterday to a new high of $235.56. The chipmaker has now gained an impressive 43% over the last three trading sessions following a major deal with OpenAI to supply GPU chips for AI infrastructure with 6 gigawatts of capacity. OpenAI received an option to purchase up to 160 million AMD shares as part of the agreement, strengthening the strategic relationship between the two companies and fueling positive sentiment around the stock.

$DELL Dell Technologies is pulling back 0.6% in premarket action after a remarkable run that pushed shares to an annual high of $164.53. The stock jumped more than 9% yesterday, continuing a 3.5% gain from the prior session, after the company raised its long-term financial targets based on strong demand for AI-based servers. Dell has notched a nearly 17% gain in just three trading days, prompting some investors to lock in profits.

$COST Costco Wholesale is climbing 1.6% in early trading after reporting an 8% increase in sales for the five weeks ended October 5, totaling $26.6 billion. Comparable store sales rose 5.7%, with U.S. locations up 5.1%. Digital sales, which the company now calls "digitally-enabled sales," soared 26%, highlighting the growing contribution of online channels to overall growth.

$FCX Freeport-McMoRan is gaining 2.9% premarket, extending yesterday's 5.3% jump after both Citigroup and Wells Fargo issued fresh buy recommendations based on forecasts for rising copper prices. Investors view Freeport as a major beneficiary of anticipated recovery in demand for industrial metals, particularly given global investments in green energy and infrastructure projects.

$COIN Coinbase Global is down 1.5% in early trading alongside a 1.3% decline in Bitcoin $BTCUSD, which has pulled back from the record high of $126,064 reached Monday and lost about 3% from peak levels. Despite the current dip, Coinbase shares are still up 56% year-to-date after closing higher in eight of the last nine trading sessions.

$DAL Delta Air Lines is up 1.4% premarket ahead of third-quarter earnings expected today, with analysts estimating adjusted earnings of $1.52 per share on revenue of $15.1 billion. Investors will be watching closely for updates to the annual forecast and any signals about demand trends for winter travel.

$PEP PepsiCo is climbing 0.7% before the bell ahead of releasing third-quarter results, with analysts expecting adjusted earnings of $2.26 per share, down five cents from the year-ago period, and revenue of $23.8 billion, up 2.2%. Focus will be on North American performance and updates regarding the company's relationship with activist investor Elliott Investment Management, which continues pressing for improved shareholder returns.

Market participants are closely watching Federal Reserve Chair Jerome Powell speech today at a community banking conference in Washington. Investors will be parsing his remarks for clues about monetary policy direction, especially after minutes from the last Fed meeting revealed internal divisions among committee members. Some officials believe rates should remain unchanged for an extended period to avoid harming growth, while others argue inflation hasn't been fully contained and another rate increase should be considered. Fed members Michelle Bowman and Mary Daly are also scheduled to speak later today, potentially influencing rate expectations.

The ongoing partial government shutdown, now entering its second week, continues to delay release of official economic data including employment reports, inflation indices, and manufacturing figures. This leaves both investors and the Fed with fewer indicators of the real economy's health, meaning market movements are increasingly driven by expectations and sentiment rather than empirical data. Washington remains gridlocked on the shutdown, with the Trump administration missing its self-imposed deadline to announce a support program for soybean farmers worth $10 to $14 billion, as furloughed Agriculture Department employees prevent implementation.

Earnings season officially kicks off today with results from Delta and PepsiCo providing the first major indication of consumer spending and demand conditions in the United States. With the economic data blackout due to the shutdown, these corporate reports take on even greater significance as investors seek concrete information about business conditions heading into the final quarter of 2025.

View All Headlines