Palantir, Shiba Inu, Apple, American Airlines: What to Watch When the

Futures are pointing to a fresh selloff on Wall Street, as bond yields extend rises and energy prices soar. Here’s what we’re watching ahead of Wednesday’s open.

• Palantir Technologies jumped 8.2% ahead of the opening bell. The data-software company said it was selected for a U.S. Army intelligence program contract.
• Facebook shares ticked 0.8% lower premarket after the company spent a day in the headlines amid a whistleblower’s testimony on Capitol Hill and a widespread outage of its services.
• But the downdraft in major tech shares was hitting most of the giants. Microsoft slipped 1% premarket, Apple shed 1.1%, Google-parent Alphabet fell 0.8%, Netflix gave up 0.6% and Nvidia lost 1.6%.

• Cryptocurrencies turbo-charged by Tesla CEO Elon Musk got another boost Wednesday. The token Shiba Inu gained 48% over the previous 24 hours, adding to a days-long rally after Mr. Musk posted a new photo of his Shiba Inu puppy named Floki on Monday. The coin now has a market value of $9 billion, making it the twentieth largest cryptocurrency, according to CoinMarketCap.com. Dogecoin, a favorite of Mr. Musk’s, also rose 3% over the previous 24 hours.

• Shares of  American Airlines Group  lost 3.2% premarket and  Delta Air Lines  shed 1.6%, weighed down by concerns about fuel costs and a slowing economic growth.
• Acuity Brands  added 1.6% after the industrial-technology company said its profit for the fiscal fourth quarter rose as sales benefited from improved service levels and an improving economy.
• Vaccine makers Moderna and Novavax look set to remain stuck in the doldrums that began after Merck’s successful test of its Covid-19 treatment. Novavax dropped 3.8% premarket and Moderna fell 3.5%. Pfizer was also down, by 0.7%.
• Business-development company Saratoga Investment ‘s stock nudged up 1.2% in the extended session after it reported record repayments during the second quarter.
• Levi Strauss  will give an earnings update after the close.

Chart of the Day

• Silver prices just wrapped up their worst four-month stretch since November 2014, dragged down by expectations for higher interest rates and a slowdown in manufacturing activity.

Write to James Willhite at james.willhite@wsj.com