Live Nasdaq Composite: Tech Stages a Comeback as Memory Chip Stocks Lead the Rebound

The post Live Nasdaq Composite: Tech Stages a Comeback as Memory Chip Stocks Lead the Rebound appeared first on 24/7 Wall St..

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Goldman Sachs initiated Twilio (NYSE:TWLO) at Buy with a $300 price target, pointing to margin upside as the core of its constructive thesis on the cloud communications platform.

Seaport is holding its ground on a contrarian Sell call for Nvidia (NASDAQ:NVDA), arguing that the financing dynamics underpinning the AI buildout are becoming increasingly strained.

Wells Fargo lifted Invitation Homes (NYSE:INVH) to Overweight from Equal Weight, calling it one of its top residential picks heading into second-quarter earnings and citing a better-than-feared spring leasing season, new investment opportunities from the ROAD to Housing Act, and completed share repurchases that set the stage for a guidance raise.

UBS raised its price target on Advanced Micro Devices (NASDAQ:AMD) to $670 from $470, maintaining its Buy rating and flagging growing traction for standalone CPU racks as a reason for added conviction on the name.

Here’s a look at where things stand as of pre-morning trading:

The Nasdaq Composite is attempting to shake off yesterday’s bruising session. Tech stocks are bouncing in early trading with Nasdaq 100 futures tacking on 0.4% as investors look to put some distance between themselves and yesterday’s 2.21% decline. S&P 500 futures are up 0.2% while Dow futures are holding near the flatline.

Memory chips are leading the premarket recovery, with Micron Technology (NASDAQ:MU) climbing around 4% and SanDisk (NASDAQ:SNDK) adding nearly 3%, both clawing back a portion of Tuesday’s 13% collapse. The Roundhill Memory ETF is up 3% after shedding 14% the prior session. Intel (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM) are each recovering more than 1% after losing 6% and 8% respectively on Tuesday.

The session’s defining event arrives after the closing bell, when Micron reports its latest quarterly results.

Here’s how the broader indices are shaping up in pre-market trading:

Dow Jones Futures: 52,063 Down 0.04%
Nasdaq 100 Futures: 29,777 Up 0.36%
S&P 500 Futures: 7,451 0.19%

Market Movers

Gold is extending its recent retreat, with spot prices dropping more than 3% to $3,978.79 per ounce, slipping back below the $4,000 threshold as the risk-off trade that briefly drove the metal higher shows signs of unwinding.

OpenAI and Broadcom (NASDAQ:AVGO) unveiled OpenAI’s first custom AI chip Wednesday, a purpose-built inference accelerator for large language models called Jalapeño. Designed from concept to manufacturing tape-out in just nine months, OpenAI believes the development cycle represents the fastest ASIC build ever achieved in high-performance advanced semiconductors, a milestone that signals the ChatGPT maker is serious about reducing its dependence on third-party silicon.

JPMorgan is dialing back its oil price outlook, cutting its Brent crude forecast for the second half of 2026 on weaker inventory draws and softer demand than the bank had previously modeled. JPMorgan now sees Brent averaging $86 per barrel in the third quarter, $80 in the fourth, and finishing 2026 around $78. The bank also flagged the possibility that excess supply could force production cuts in early 2027, adding a cautionary note to an energy market that has already pulled back sharply from its conflict-driven highs.

The post Live Nasdaq Composite: Tech Stages a Comeback as Memory Chip Stocks Lead the Rebound appeared first on 24/7 Wall St..