US Markets Bounce Higher as Tech Stocks Rebound
US equity futures on Wall Street indicated a positive opening on Wednesday, August 19, as investors focused on stock-specific approaches and reacted to various market developments.
The Dow Jones futures were trading 0.10% higher at 53,451 points ahead of the opening bell, indicating a 100-point higher opening in comparison to the previous US equity market close.
In contrast, the tech-heavy Nasdaq 100 futures declined 0.25% to 29,511 points ahead of Wednesday's open.
SK Hynix ADR shares surged more than 6% during pre-market trading as investors reacted to the company's $29 billion buyback announcement and plans to allocate over 50% of free cash flow for shareholder returns.
Merck & Co. shares rallied more than 8% ahead of the opening bell, driven by breakthroughs in adjuvant melanoma treatment trials.