Intel, Dell, J.B. Hunt, Strategy, and More Stocks That Explain Today’s Market

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Traders working on the floor of the New York Stock Exchange. (Michael M. Santiago/Getty Images)

Key Points

U.S. stock futures edged higher on Wednesday as investors awaited the Federal Reserve’s interest-rate decision.
Intel and SK Hynix shares rose following a report that the two companies discussed a potential memory-chip partnership.
J.B. Hunt Transport Services shares fell after its CFO projected a 5% to 10% sequential drop in third-quarter profit due to higher costs.

Stock futures were edging higher on Wednesday as investors waited for the Federal Reserve’s interest-rate decision.

Intel gained 4.9% and SK Hynix added 2.8% ahead of the opening bell after Reuters reported the two companies had discussed a potential memory-chip partnership. Intel and SK Hynix didn’t immediately respond to requests for comment from Barron’s.

Other chip and memory stocks were also rising, having taken a battering earlier this week due to calls for a slowdown in the development of artificial intelligence. Coherent, Corning , Dell , and Lumentum all advanced in premarket trading.

J.B. Hunt Transport Services slumped 8.8%. CFO Brad Delco said he expects the trucking company’s third-quarter profit to drop between 5% and 10% from the previous quarter, citing higher costs.

Crypto stocks were sliding after the Clarity Act failed to advance in a Senate vote. Digital-asset exchange Coinbase, online trading platform Robinhood, and Bitcoin investor Strategy were all a touch lower, having slumped on Tuesday when the bill collapsed.

Write to George Glover at george.glover@dowjones.com

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