S&P 500 futures tick higher as oil falls and traders await Nvidia’s earnings: Live updates

The investment firm upgraded the transport name to buy from hold. It also hiked its price target on shares to $200 from $195, suggesting 16% upside from Tuesday’s close.

“We came away … with higher conviction in CHRW’s technology and productivity transformation,” analyst Stephanie Moore said Wednesday in a note to clients. “The company’s investment-grade balance sheet and strong [free cash flow] generation give it the financial flexibility to pursue M&A opportunistically while continuing to invest in technology and return capital to shareholders.”

C.H. Robinson has declined nearly 9% over the past three months, largely due to higher truckload spot rates that have pressured margins. That has led the stock to underperform its transport peers over the past several months, “creating what we see as an attractive entry point and a valuation setup that is hard to ignore,” Moore wrote.

— Liz Napolitano

Cava shares jumped more than 7% in the premarket on Wednesday after the company posted and earnings and revenue beat for the first quarter and raised its full-year guidance.

The company earned 20 cents per share on revenue of $438 million for the quarter, while analysts surveyed by LSEG were expecting 18 cents in earnings per share and $411 million in revenue.

For the full year, Cava now forecasts its adjusted EBITDA to come in between $181 million and $191 million, up from the $176 million to $184 million that the company previously anticipated.

Check out the companies making the biggest moves premarket:

• Analog Devices — The semiconductor company fell 1.5% despite reporting better-than-expected adjusted earnings of $3.09 per share in its fiscal second quarter. Analysts polled by FactSet estimated earnings of $2.88 per share. Analog Devices also delivered revenue above estimates too.
• Chipmakers — After a breather following a rapid rally higher, semiconductor stocks rebounded with the iShares Semiconductor ETF (SOXX) up more than 2%. Marvell Technology was up more than 5%, while Intel rose more than 4%. Micron Technology and Qualcomm were both higher by more than 3%.
• TJX Companies — The retailer jumped 4% after it reported better-than-expected results in its first-quarter financial report. TJX delivered $1.19 in earnings per share and $14.32 billion in revenue. Analysts polled by FactSet expected earnings of $1.02 per share and revenue of $14.02 billion. The company, though, gave slightly weaker guidance for the current quarter.

Read the full list here.

— Davis Giangiulio

Target shares climbed nearly 2% after the retailer reported a beat on first-quarter numbers and hiked its full-year sales outlook.

The company earned $1.71 per share on revenue of $25.44 billion. Analysts expected a profit of $1.46 per share on revenue of $24.64 billion, per LSEG. Target added it sees net sales growth of 4% for the year, up 2 percentage points from a prior forecast.

Lowe’s reported first-quarter results that beat analyst expectations. The company also reaffirmed its full-year outlook.

The home improvement retailer earned an adjusted $3.03 per share on revenue of $23.08 billion. Analysts polled by LSEG expected a profit of $2.97 per share on revenue of $22.97 billion.

However, the numbers left investors underwhelmed, with shares losing more than 2% before the bell.

European stocks struggled to gain momentum on Wednesday, as global markets keep a close eye on elevated bond yields and a lower-than-expected U.K. inflation print.

By 8:55 a.m. in London (3:55 a.m. ET), the pan-European Stoxx 600 was marginally lower, with sectors and regional bourses in mixed territory. The index oscillated around the flatline after initially opening in negative territory.

— Chloe Taylor and Holly Ellyatt

Asia-Pacific markets fell on Wednesday as investors weighed elevated bond yields and renewed geopolitical tensions.

Japan’s super-long government bond yields eased slightly on Wednesday, with the 30-year JGB yield falling more than 9 basis points to 4.065% after hitting record highs on Monday.

Meanwhile, shorter-dated Japanese debt continued to come under pressure, with the 5-year JGB yield climbing to a record 2.041%.

State Street’s Masahiko Loo said record-high Japanese government bond yields are feeding into a broader global “duration reset,” though he stressed the move should tighten global financial conditions only gradually rather than trigger systemic stress.

While higher JGB yields could weigh on duration-sensitive assets and raise global borrowing costs, Loo said the repricing remains part of a broader adjustment in bond markets rather than a Japan-specific funding shock. He noted that Japan’s debt market is still largely domestically financed and underpinned by massive household savings buffers.

Japan’s Nikkei 225 lost 1.23% to 59,804.41 while the Topix declined 1.53% to 3,791.65. South Korea’s Kospi fell 0.86% to 7,208.95 while the small-cap Kosdaq dropped 2.61% to 1,056.07. Shares of Samsung Electronics edged 0.18% higher even as wage talks between the company and the workers broke down, with more than 47,000 employees now set to go on strike Thursday.

In Australia, the S&P/ASX 200 lost 1.26% to 8,496.6.

Hong Kong’s Hang Seng index slid 0.57%, and the mainland’s CSI 300 closed flat.

— Lee Ying Shan

U.S. Treasurys have entered a “danger zone” as surging long-term yields raise fears that sticky inflation and hawkish rate expectations could begin spilling over into equities and broader risk assets, said HSBC.

Further moves may also start to affect stocks, according to BMO Capital Markets strategist Ian Lyngen.

Read the full story here.

— Lee Ying Shan

Global stock markets have been on a tear in 2026, extending last year’s rally as traders look through geopolitical turmoil and inflation fears.

But bond markets are painting a different picture — and the growing divergence is ringing alarm bells for some investors.

Read more here.

— Chloe Taylor

Asia-Pacific markets fell Wednesday as investors weighed elevated bond yields and renewed geopolitical tensions, as the risk of an escalation in the Iran conflict looms large.

U.S. President Donald Trump’s said Tuesday that he was “an hour away” from deciding to attack Iran, before being persuaded to postpone the strike for a few days.

Yields on U.S. Treasurys advanced as investors continued to dump bonds on fears inflation is reigniting. The longer-dated 30-year Treasury bond yield was last trading almost 1 basis point lower at 5.174%. It briefly hit 5.197% during the session, marking its highest level since July 2007.

Japan’s super-long government bond yields eased slightly on Wednesday, with the 30-year JGB yield falling over 3 basis points to 4.122% after hitting record highs on Monday.

Meanwhile, shorter-dated Japanese debt continued to come under pressure, with the 5-year JGB yield climbing to a record 2.041%.

Japan’s Nikkei 225 lost 1.29%, while the Topix declined 1.45%. South Korea’s Kospi fell 0.69%, while the small-cap Kosdaq dropped 2.23%.

In Australia, the S&P/ASX 200 lost 0.85%.

Hong Kong’s Hang Seng index slid 0.55%, and the mainland’s CSI 300 was down 0.3%.

During Tuesday’s trading session, five of the 11 GICS sectors ended the day higher.

Gains were led by the health care sector, up 1.09%. The energy and utilities sectors followed, rising 1.03% and 0.99% on the day, respectively.

On the other hand, materials stocks fell 2.28% and were the day’s biggest laggards. The communication services, consumer discretionary, financials and industrials sectors also all fell more than 1%.

— Lisa Kailai Han

These are the stocks moving the most in extended-hours trading:

• Toll Brothers — The homebuilder added 2% after reporting fiscal second-quarter earnings of $2.72 per share, beating the $2.57 analysts polled by LSEG had expected. Toll Brothers’ $2.51 billion revenue also came in above the forecast $2.42 billion.
• Cava — Shares popped almost 7% after the Mediterranean fast-casual chain hiked its adjusted EBITDA guidance for the full year to between $181 million to $191 million, versus its prior outlook of $176 million to $184 million. The company also reported first-quarter earnings of 20 cents per share on $438 million in revenue, beating the earnings of 18 cents and revenue of $411 million analysts had expected, per LSEG.
• Red Robin Gourmet Burgers — The burger chain surged 14% after posting first-quarter adjusted earnings of 13 cents per share, while analyst polled by FactSet were expecting Red Robin to break even. The company’s $378.3 million revenue also beat the anticipated $362.1 million.
• Keysight Technologies — Shares rose 2% after the provider of electronic design, emulation and test solutions guided for current-quarter revenue and adjusted earnings per share above what analysts polled by LSEG were expecting. The company also raised its full-year guidance, and posted a second-quarter beat on both the top and bottom lines.

— Lisa Kailai Han

Stock futures opened little changed on Tuesday night.

Shortly after 6 p.m. ET, futures tied to all three major averages were trading around the flatline.

— Lisa Kailai Han