Constellation Brands fell nearly 5% in premarket trading after reporting quarterly results and issuing weaker-than-expected full-year earnings guidance. SpaceX shares dropped 2.34% after reports said the company is seeking to raise about $40 billion to buy chips from Nvidia for its AI development push, in what would be its biggest-ever debt financing. Neogen rose nearly 15% after beating quarterly earnings and revenue estimates and raising its fiscal 2027 revenue guidance.

SpaceX plans to raise $40 billion to purchase Nvidia AI chips as it pushes ahead with its artificial-intelligence buildout. Elon Musk also said he is making adjustments to the Grok Bot. Separately, the U.S. Federal Communications Commission approved another round of Starlink satellite launches.

Brent crude rebounded above $101 a barrel on Wednesday after a rise in attacks near the Strait of Hormuz and as a storm threatened the U.S. Gulf Coast. West Texas Intermediate crude hovered close to $90 a barrel. Average gasoline prices hit $4.36 per gallon versus $3.12 a year ago, while diesel averaged $6.30 per gallon.

India has lowered the maximum sugar inventory dealers can hold to 1,000 quintals, with the rule in effect from October 15 to November 30. The government also cut the permitted stockholding period for dealers to 15 days to keep supplies flowing during the festival period. It previously said average retail sugar prices had fallen 15% from their August peak and were expected to decline further, while ex-mill prices were down about 28% and had remained stable, the ministry said.

U.S. stock futures moved lower in premarket trading, with Nasdaq futures down 0.67%, S&P 500 futures off 0.32% and Dow futures lower by 0.56%. Brent crude rose above $100 a barrel after Iran renewed attacks on vessels in the Strait of Hormuz, offsetting signs of improving supply. U.K. gilt yields climbed 7 basis points to 5.44% as markets awaited the release of the Federal Reserve’s meeting minutes.

Bitmine executive chairman Tom Lee said at the Token 2049 conference that the company will stop buying Ethereum once it reaches a hard cap of 5% of ETH’s total supply. He said Bitmine needs about 100,000 more ETH to hit that threshold. BMNR shares were down more than 4% in premarket trading, pressured by the news and a broader pullback in the crypto market.

France and Germany told a closed-door EU meeting that the diesel they pledged to release to U.S. President Donald Trump would come from stocks already committed in March, rather than adding new supply. Germany has so far released only 600,000 tons of the 2.65 million tons of oil, diesel and jet fuel promised, while France has privately indicated it still has 8 million barrels left under its March commitment. The disclosure suggests the headline pledge could deliver fewer additional barrels than markets expected, limiting relief for Europe’s tight diesel supply, according to POLITICO.

The Reserve Bank of India has approved Anup Bagchi to take over as HDFC Bank’s managing director and chief executive officer for a three-year term starting Oct. 27, 2026. The bank will run a postal ballot from Oct. 8 to Nov. 6, 2026 to seek shareholder approval. Bagchi previously helped ICICI Bank become India’s first private-sector bank to cross a ₹2 trillion retail mortgage portfolio during his tenure there.