Stock futures rose after Bitcoin and technology gains rebounded

Stock futures rose slightly on Wednesday, a day after major indexes resumed their winning ways with technology and cryptocurrency-related stocks leading the way.

Futures contracts tied to the S&P 500, Dow Jones Industrial Average and tech-heavy Nasdaq rose 0.2%, 0.1% and 0.1%, respectively. Yesterday, the three major stock indices rose for the sixth time in seven sessions.

Bitcoin was trading at around $93,000, up from an overnight low of around $91,000. Yesterday, the largest cryptocurrency rose from below $85,500 after suffering its worst day since March on Monday. Cryptocurrency-related stock strategy (MSTR), MARA Holdings (MARA), Coinbase Global (COIN), and Robinhood Markets (HOOD) were all up roughly 1.5% to 2.5% in pre-market trading.

Big Tech stocks Magnificent Seven were mixed and little changed, with shares of Nvidia (NVDA), the world’s most valuable company, rising 0.5% after posting gains in the first two days of this week. Yesterday, the other six stocks in the group rose with the exception of Tesla (TSLA), which ended its trading with a decline of only 0.2%. Shares of the electric vehicle manufacturer rose slightly early Wednesday.

Shares of Boeing (BA) and Intel (INTC), which were the biggest gainers in the S&P 500 yesterday with gains of roughly 10% and 9%, were up about 0.5% and down 0.7%, respectively, before the bell.

In post-earnings action, American Eagle Outfitters (AEO) shares rose 13%, Marvell Technology (MRVL) shares jumped 10%, GitLab (GTLB) shares fell 8%, and CrowdStrike (CRWD) shares fell about 2%.

The yield on the 10-year Treasury note fell to 4.08% from 4.09% at Tuesday’s close. The US dollar index, which measures the dollar’s performance against a basket of foreign currencies, fell 0.3% to 99.02.

West Texas Intermediate crude futures, the US oil benchmark, rose 1.5% to $59.50 per barrel, and gold futures rose 0.2% to $4,230 per ounce.