US stock futures hovered around the flatline on Wednesday, after both the S&P 500 and the Nasdaq closed at pre-war levels in the previous session. Investors continue to monitor developments in the Middle East, alongside expectations that a second round of talks between the US and Iran could take place soon, while traffic through the Strait of Hormuz remains limited. At the same time, attention is turning to corporate earnings. Bank of America rose about 1% in premarket trading after posting higher Q1 profits. Shares of PNC were little changed, as revenue disappointed. Morgan Stanley traded near the flatline ahead of its earnings release. Also, Broadcom jumped about 3% while Meta shares were little changed after the latter said it agreed to deploy 1 gigawatt of custom AI chips using Broadcom technology. Other megacaps were mixed before the opening bell, with Nvidia (-0.2%) and Alphabet (-0.2%) edging lower while Microsoft (0.7%) and Tesla (0.6%) traded in the green.
