Wall Street futures are trending higher this Wednesday as a “buy the dip” mentality takes hold in the technology sector. The Nasdaq 100 futures are leading the charge with a 0.6% gain, while the S&P 500 and Dow Jones Industrial Average futures are up 0.5% and 0.4% respectively.
The primary catalyst for today’s bullish tilt is a landmark agreement between Nvidia (NVDA) and Meta Platforms (META), which has effectively quelled recent fears that artificial intelligence spending might be plateauing.
As reported by Reuters, Meta has committed to purchasing millions of Nvidia’s current-generation Blackwell and next-generation Vera Rubin GPUs over the next several years. This multi-billion-dollar partnership underscores CEO Mark Zuckerberg’s ambition to build “personal superintelligence” for billions of users. The news sent Nvidia shares up 2.2% in premarket trading, dragging a battered software sector, which has been reeling from AI disruption fears, back into the green.
Institutional “Whales” Realign: Ackman and Tepper Make Big Moves
The 2026 market landscape is being reshaped by massive institutional shifts, as revealed in the latest regulatory filings.
- The Amazon Rebound: Bill Ackman’s Pershing Square increased its stake in Amazon (AMZN) by a staggering 65% during the fourth quarter, making it the fund’s third-largest holding. Amazon shares are up 1.6% today as investors follow Ackman’s lead.
- Chip Conviction: David Tepper’s Appaloosa Management has doubled down on Micron (MU), which gained over 1% premarket.
- Berkshire’s New Bet: Warren Buffett’s firm, now under Greg Abel’s leadership, made a surprise multi-billion dollar bet on the New York Times (NYT), viewing the publisher as a “trusted source” moat in an AI-saturated world.
The Fed “Holding Pattern”: Minutes and PCE in Focus
While corporate earnings and AI deals are driving individual tickers, the broader market remains in a “semi-holding pattern” ahead of two major macroeconomic events. Later today, the Federal Reserve will release the minutes from its January policy meeting. Investors are looking for internal dissent or hawkish leanings after the Fed held rates steady in the 3.50%-3.75% range.
The real “line in the sand” for 2026, however, arrives this Friday with the Personal Consumption Expenditures (PCE) price index. As the Fed’s preferred inflation gauge, a reading above the expected 3.0% could spark a hawkish repricing of interest rate expectations for the second half of the year. For now, the “benefit of the doubt” remains with the tech sector, which has seen earnings estimates climb 20% over the last four months.
Corporate Calendar & Tech Movers
| Company | Change (%) | Key Driver |
| Nvidia (NVDA) | +2.2% | Landmark multi-year GPU deal with Meta Platforms. |
| Palo Alto (PANW) | -7.0% | Cut full-year outlook due to AI integration costs. |
| Southwest (LUV) | +6.1% | Upgraded to “Buy” at UBS with a higher price target. |
| Genuine Parts (GPC) | -14.5% | Downgraded by Truist on auto business concerns. |
Conclusion: Navigating the “AI Whack-a-Mole” Market
The current market regime is characterized by high volatility as investors play “whack-a-mole” with AI winners and losers. While firms like Palo Alto Networks face short-term pain from heavy acquisition costs, the massive infrastructure commitments from Meta and Oracle suggest that the “Superintelligence” build-out is still in its early innings.
As the S&P 500 tests new historical levels near 6,880, the resilience of the 200-day EMA on major indices will be critical. Ultimately, the 2026 narrative is shifting from “when will AI pay off” to “who can deploy it at the greatest scale”, and today, the market is betting on the giants.
Futures are rising due to a massive AI chip deal between Nvidia and Meta, along with bullish filing data from major hedge funds.
The minutes will reveal how close officials are to another rate cut after pausing their cycle in January.
While some software names are under pressure, the Meta-Nvidia deal and Billion-dollar bets from Ackman suggest that institutional demand remains at record highs.