Stock futures mixed as chip stocks slip again and Asian markets fall
U.S. stock futures were mixed early Tuesday, with Nasdaq-100 futures lower as AI-linked chip stocks came back under selling pressure a day after the Nasdaq’s rebound, CNBC reported. These are premarket moves; the regular session opens at 9:30 a.m. ET.
Futures: S&P 500 futures were flat, Nasdaq-100 futures were down 0.31% and Dow futures were up 0.2%, CNBC reported in a live blog updated at 4:52 a.m. ET. Micron fell 2.2% in premarket trading, Intel fell 1.2% and Qualcomm dipped 0.35%, according to CNBC.
Monday’s close: The Nasdaq Composite rose 1.11% to 26,430.89 on Monday, the S&P 500 gained 0.41% to 7,690.73 and the Dow slipped 0.07% to 51,966.03, CNBC reported. Nvidia added 1.4% and Tesla jumped 3.8%, according to CNBC. CoreWeave, which fell more than 25% last week over debt concerns, closed slightly lower despite a Goldman Sachs upgrade.
Overseas: South Korea’s Kospi fell 3.73% to 5,552.74 and Japan’s Nikkei 225 fell 1.3% to 64,075.42, CNBC reported. In Europe, the Stoxx 600 was 0.3% lower in early trading, and ABB shares fell around 6% even after the Swiss company reported record third-quarter orders, up 40% to $12 billion, according to CNBC.
Oil: Brent crude rose 0.14% to $109.70 a barrel and U.S. West Texas Intermediate rose 0.25% to $103.92 as Houthi attacks on Saudi Arabia raised supply worries, CNBC reported. Brent topped $110 on Monday, its highest level since mid-May, Anadolu Agency reported.
What’s next: General Motors was set to report before the open, with analysts expecting adjusted earnings of $3.63 a share on revenue of $48.70 billion, according to LSEG estimates cited by CNBC. United Airlines reports after the close. Futures can change before the opening bell, and no closing figures for Tuesday are available yet.