U.S. stock futures edged lower Wednesday as rising oil prices and Treasury yields interrupted a strong four-day market run, although enthusiasm around artificial intelligence continued to support technology stocks.
At 8:40 a.m. ET, Dow Jones futures were down 145 points, or 0.28%, while S&P 500 futures slipped 0.11% and Nasdaq-100 futures lost 0.24%, according to Reuters.
The pause follows another strong session for technology shares. The Nasdaq reached a fresh record Tuesday as AI-linked stocks extended their rebound.
AI Trade Still Supports the Market
AI enthusiasm remains one of the strongest forces underneath U.S. equities.
Meta’s new Muse AI assistant has drawn strong consumer interest, while semiconductor shares have now advanced for six consecutive sessions. Asian chip stocks also moved higher Wednesday, with South Korea and Taiwan benefiting from the same AI momentum.
The move continues a broader rebound that recently saw AI stocks rally as oil prices eased.
Chipmakers have been particularly strong. AMD recently crossed a $1 trillion market capitalization, while Nvidia, Broadcom and memory producers remain central to expectations for rising AI infrastructure spending.
That same theme helped push U.S. stocks higher earlier this week.
Oil and Treasury Yields Create Resistance
The main pressure Wednesday came from energy prices and bonds.
Brent crude rose more than 1% in early trading after five consecutive declines, while both two-year and 10-year Treasury yields moved higher. The 10-year yield was hovering close to 5%, a level that can weigh on high-valuation growth stocks.
Higher yields increase borrowing costs and reduce the relative appeal of future corporate earnings, making technology stocks particularly sensitive to rate moves.
That relationship is one reason falling oil and yields recently helped AI stocks and the broader market rebound.
