AI infrastructure financing concerns weigh on technology shares ahead of U.S. data
CoreWeave fell roughly 4.5%, Oracle 2%, Nvidia 1.3% and Micron 4% as investors reassessed AI infrastructure financing costs. TSMC reported record quarterly earnings but gave a cautious 2027 outlook. September PPI, retail sales, weekly jobless claims and regional manufacturing surveys are due at 8:30 a.m. ET.
3% and Micron dropped 4% as investors reassessed financing costs for AI infrastructure. TSMC posted record quarterly earnings, while its cautious outlook for 2027 added to uncertainty across the technology sector. Major economic releases are due at 8:30 AM ET: September PPI, September retail sales, weekly jobless claims, and the Empire State and Philadelphia Fed manufacturing surveys. 6% month over month.
S. Bancorp and Bank of New York Mellon are among the companies reporting earnings. Investors will also watch remarks by Fed officials Austan Goolsbee and Beth Hammack. Markets are pricing in an approximately 27% probability of an October Fed rate hike.
Inflation data, selling in AI-related shares, bank earnings, Treasury yields and oil prices are the primary drivers of today's session.