In the latest premarket session, US stock futures are showing a downward trend as reports surface regarding Nvidia Corporation facing an antitrust investigation into its predominant role in the artificial intelligence sector. This comes at a time when investors are eagerly awaiting job vacancy statistics to be unveiled later this morning, alongside critical employment data expected on Thursday, which could significantly influence market dynamics. The Dow Jones Industrial Average futures are down by 0.2%, while S&P 500 futures have declined by 0.4%, and Nasdaq futures are experiencing a more pronounced fall of 0.8%.
This bearish sentiment is further juxtaposed against rising oil prices, with global benchmarks Brent crude and West Texas Intermediate crude increasing by 0.79% and 1.07%, respectively. In equity markets, WiSA Technologies (WISA) has seen a remarkable surge of 63% in premarket trading after finalizing a $210 million deal to acquire the Datavault intellectual property and IT assets from the privately-held Data Vault.
Additionally, shares of LogicMark (LGMK) have skyrocketed 33%, building on a notable 13% increase from the previous day. Similarly, Conifer Holdings (CNFR) shares advanced by 25%, following the news of President Brian Roney’s promotion to Chief Executive Officer on Tuesday. Conversely, some companies faced significant losses.
Athira Pharma (ATHA) shares plummeted by 73% after announcing that the topline results from its phase 2/3 trial of fosgonimeton for Alzheimer's disease did not meet primary and key secondary endpoints. Oragenics (OGEN) shares fell by 40%, exacerbating a prior session's 16% decline. Furthermore, Shuttle Pharmaceuticals (SHPH) shares experienced a 22% decrease, effectively erasing gains of 17% from Tuesday. The performance of these stocks and the overall market trends highlight the interconnectedness of economic indicators, investor sentiment, and corporate developments.
As the day unfolds, market participants will closely monitor these factors alongside the jobs data release..