U.S. Stock Futures Point Lower as Tech and Large-Cap Benchmarks Slip
U.S. stock futures point to a lower open, with Nasdaq 100 futures down 0.89%, S&P 500 futures down 0.38% and Dow futures down 0.05%. Russell 2000 futures are up 0.02%.
S. stock futures are pointing to a lower open for tech and large-cap benchmarks early Thursday as Wall Street navigates a global semiconductor selloff, hotter-than-expected consumer inflation data, and severe shipping disruptions in the Strait of Hormuz. The Polymarket traders, a Polygon (CRYPTO: POL) based prediction platform, are leaning bearish for the Oct. 15 trading session.
” contract currently reflects a 39% chance of a higher open. Why That Number Matters Traders are balancing negative tech futures against strong historical market trends and an increasingly volatile geopolitical landscape: Tech-Led Drop in Futures: Equity futures are flashing red for major tech and large-cap indices. 38%. 02% gain.
Geopolitics & Oil: Iran reported that an unidentified cargo ship sank after striking a naval mine in the Strait of Hormuz, marking the first such sinking in the conflict. Singapore also reported attacks on two of its registered vessels transiting the waterway. S. midterms.
92 a barrel. S. 7% year-over-year) and building anxieties over the cost of financing AI infrastructure, semiconductor stocks took a global hit. South Korea’s SK Hynix Inc.
(NASDAQ: SKHY ) plunged over 11% in Seoul, dragging down other global chipmakers and heavily pressuring the Nasdaq. m. ET. The earnings calendar is headlined by Taiwan Semiconductor Manufacturing Co.
Ltd. (NYSE: TSM ), Charles Schwab Corp. (NYSE: SCHW ), Prologis Inc. (NYSE: PLD ), and Bank of New York Mellon Corp.
(NYSE: BNY ). The Bull Case and Market Outlook Despite the immediate headwinds of inflation and tech selloffs, LPL Financial’s Chief Equity Strategist Jeff Buchbinder notes that the current bull market—which just celebrated its fourth anniversary since bottoming in October 2022—has history on its side. 7% gain in that fifth year. Because bull markets typically end due to recessions or financial crises—neither of which appear imminent given strong corporate profits and robust AI infrastructure spending—Buchbinder suggests that if rates and oil eventually pull back, the next 12 months could prove highly rewarding for investors.
How the Previous Bet Played Out The Oct. ” The contract recorded $33,506 in total trading volume. On Wednesday, the SPDR S&P 500 ETF Trust (NYSE: SPY ) and Invesco QQQ Trust ETF (NASDAQ: QQQ ), which track the S&P 500 and Nasdaq-100, respectively, closed lower. 95.
63. Read Also: Wells Fargo Is 'Positioned To Make More Money' Despite Higher Rate Fears, Says Jim Cramer Following Q3 Earnings Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors. Photo courtesy: Shutterstock