US Futures Hold Mixed Momentum
Futures tracking US equities extended their mixed momentum this week as pressure on AI infrastructure offset resilience elsewhere. Contracts for the S&P 500 dropped 0.3%, and those for the Nasdaq 100 fell 1.3%. Chip producers and AI hyperscalers sank further after Anthropic disclosed third-quarter sales figures that slowed from the pace earlier this year and missed most estimates, reinforcing skepticism that soaring expenditure in the sector may not translate into returns. Micron, Intel, AMD, and Marvell dropped over 4% premarket, while Seagate and Western Digital tumbled 6%. The Nasdaq 100 was poised to decline for the sixth session in the last seven. Producer prices are expected to have risen sharply in September, aligning with current expectations of another Fed rate hike this year. The Dow edged higher as a rally in Treasuries as markets pivoted from speculative assets into lower-risk alternatives. Walmart added 2.6% and Eli Lilly gained 2%.
Futures tracking US equities extended their mixed momentum this week as pressure on AI infrastructure offset resilience elsewhere. Contracts for the S&P 500 dropped 0.3%, and those for the Nasdaq 100 fell 1.3%. Chip producers and AI hyperscalers sank further after Anthropic disclosed third-quarter sales figures that slowed from the pace earlier this year and missed most estimates, reinforcing skepticism that soaring expenditure in the sector may not translate into returns. Micron, Intel, AMD, and Marvell dropped over 4% premarket, while Seagate and Western Digital tumbled 6%.
The Nasdaq 100 was poised to decline for the sixth session in the last seven. Producer prices are expected to have risen sharply in September, aligning with current expectations of another Fed rate hike this year. The Dow edged higher as a rally in Treasuries as markets pivoted from speculative assets into lower-risk alternatives. Walmart added 2.6% and Eli Lilly gained 2%.