Nvidia Weighs Down Markets as US Futures Trend Lower in Wednesday's Premarket Session

08:09 AM EDT, 09/04/2024 (MT Newswires) -- US stock futures are trending lower in Wednesday's premarket session, weighed down by media reports that chip-making giant Nvidia (NVDA) is facing an antitrust probe into its dominant position in the artificial intelligence business.

Investors will be eyeing job vacancies data set to be released later in the morning, as well as key employment figures coming out Thursday.

The Dow Jones Industrial Average futures were off 0.2%, S&P 500 futures were down 0.4% and Nasdaq futures were declining 0.8%.

Oil prices were moving higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.79% and 1.07%, respectively.

In equities, shares of WiSA Technologies (WISA) jumped 63% in Wednesday's premarket activity after it agreed to acquire the Datavault intellectual property and information technology assets of privately held Data Vault for $210 million. Shares of LogicMark (LGMK) surged 33%, adding to Tuesday's 13% gain. And Conifer Holdings' (CNFR) shares advanced 25% after it said Tuesday that it promoted President Brian Roney to chief executive.

On the losing side, shares of Athira Pharma (ATHA) plummeted 73% after it said late Tuesday that topline results from its phase 2/3 trial of fosgonimeton to treat Alzheimer's disease failed to meet the primary and main secondary endpoints. Oragenics' (OGEN) shares plunged 40%, adding to a 16% loss the previous session. And shares of Shuttle Pharmaceuticals (SHPH) tumbled 22%, more than wiping out Tuesday's 17% gain.