U.S. equity futures rose and then fell as investors continue to assess aggressive central bank monetary tightening.
Here are 4 tickers trending on Yahoo Finance in premarket trading:
Bitcoin USD (BTC-USD): Bitcoin dipped under $19,000 on Wednesday morning.
“The risk environment was always looking like a major headwind for bitcoin and the technical setup wasn’t looking any more promising, so a significant break of $20,000 does not come as a great surprise,” Craig Erlam, senior market analyst at OANDA, wrote in a note on Wednesday. “The question now is whether we could see another spiral, as we so often have in the past, in the event that bitcoin breaks the summer lows around $17,500 to trade at late 2020 levels.”
UiPath Inc. (PATH): Shares of the “software robot” provider are lower in premarket trading Wednesday after the automation software company reduced its outlook for the year due to ‘’foreign exchange and macroeconomic volatility.’’ The stock price has fallen more than 75% over the past year after an IPO price of $56 a share in 2021.
Intel Corporation (INTC): Intel stock was mostly flat after the Biden administration released a framework on Tuesday for implementing the $50 billion semiconductor industry incentives that were signed into law last month. Intel CEO Pat Gelsinger has been a leading advocate for the Chips and Science Act, arguing that U.S. chipmakers were competing on an uneven playing field without government incentives.
Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv
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