Morning Movers: Corning sinks and Boeing gains after quarterly results
Stock futures are mixed this morning as investors brace for a pivotal stretch of earnings and the start of the Federal Reserve's two-day policy meeting, with renewed concerns over artificial intelligence spending and rising competition from Chinese chipmakers weighing heavily on technology shares. The semiconductor sector remains under intense pressure after a broad selloff spread across Asia overnight. South Korea's KOSPI plunged nearly 10%, triggering market-wide circuit breakers, as shares of SK Hynix (SKHY) and Samsung Electronics (SSNLF) tumbled on concerns about memory chip pricing, AI infrastructure spending and increased competition from Chinese rivals. The weakness has spilled over into U.S. markets, with chip stocks trading lower in premarket action. Investors are also preparing for one of the busiest weeks of the earnings season. Microsoft (MSFT) and Meta Platforms (META) report Wednesday, followed by Apple (AAPL) and Amazon (AMZN) on Thursday. After Alphabet (GOOGL) and Tesla (TSLA) raised fresh questions last week about the cost of AI investments, markets will closely examine whether continued multibillion-dollar capital expenditures are translating into sustainable.
Stock futures are mixed this morning as investors brace for a pivotal stretch of earnings and the start of the Federal Reserve's two-day policy meeting, with renewed concerns over artificial intelligence spending and rising competition from Chinese chipmakers weighing heavily on technology shares.
The semiconductor sector remains under intense pressure after a broad selloff spread across Asia overnight.
South Korea's KOSPI plunged nearly 10%, triggering market-wide circuit breakers, as shares of SK Hynix (SKHY) and Samsung Electronics (SSNLF) tumbled on concerns about memory chip pricing, AI infrastructure spending and increased competition from Chinese rivals.
The weakness has spilled over into U.S. markets, with chip stocks trading lower in premarket action.
Investors are also preparing for one of the busiest weeks of the earnings season.
Microsoft (MSFT) and Meta Platforms (META) report Wednesday, followed by Apple (AAPL) and Amazon (AMZN) on Thursday.
After Alphabet (GOOGL) and Tesla (TSLA) raised fresh questions last week about the cost of AI investments, markets will closely examine whether continued multibillion-dollar capital expenditures are translating into sustainable.