S&P 500 and Dow futures rise as AI stocks stabilize

S&P 500 and Dow Jones futures rose slightly on Wednesday as AI-related stocks stabilized, while investors awaited key US inflation data and bank earnings. Oil prices remained elevated above $100 per barrel following ship attacks in the Strait of Hormuz. Bank of America shares fell 1.5% in premarket trading after disclosing a $1.21 billion regulatory fine, while Morgan Stanley rose 0.7%. Chip stocks were mixed, with Intel and Micron declining over 1% each, while Nvidia edged up 0.2%. Dow futures gained 234 points, and S&P 500 futures rose 16.25 points. Economists polled by Reuters expect September CPI inflation to accelerate to 3.6% annually. New York Fed President John Williams indicated another rate hike may be needed this year but not in 2027. Investors priced a 22% chance of a quarter-point rate increase next week.