Tech Caution Again Undercuts Wall Street Pre-Bell; Asia, Europe Off
Wall Street futures pointed moderately lower pre-bell Tuesday on renewed tech-sector jitters, despite South Korea's semiconductor-industry bellwether Samsung Electronics reporting record quarterly profits overnight. Samsung reported a Q2 earnings of $58.4 billion, which was above market expectations, and noted rising memory-chip prices, but traders evidently sold on the news, and booked profits. Samsung traded down 6.9% on Seoul's KOSPI index. In the futures, the S&P 500 fell 0.2%, the Nasdaq declined 1% but the Dow Jones was up 0.2%. The VanEck Semiconductor ETF (SMH) traded down 2.7% in pre-bell action. Asian exchanges traded mostly lower overnight on tech-sector softness, while European bourses edged mostly lower midday on the continent. Fiserv (FISV) rose 4.9% pre-bell on media reports the financial tech enterprise may sell its STAR network, a debit card routing infrastructure, to a group of major US banks. On the economic calendar is the international trade in goods and services bulletin for May, at 8:30 am ET. In pre-market action, bitcoin traded at $63,180, West Texas Intermediate crude oil traded up 0.8% at $69.09, and 10-year US Treasuries offered 4.49%. Spot gold.
Wall Street futures pointed moderately lower pre-bell Tuesday on renewed tech-sector jitters, despite South Korea's semiconductor-industry bellwether Samsung Electronics reporting record quarterly profits overnight.
Samsung reported a Q2 earnings of $58.4 billion, which was above market expectations, and noted rising memory-chip prices, but traders evidently sold on the news, and booked profits.
Samsung traded down 6.9% on Seoul's KOSPI index.
In the futures, the S&P 500 fell 0.2%, the Nasdaq declined 1% but the Dow Jones was up 0.2%.
The VanEck Semiconductor ETF (SMH) traded down 2.7% in pre-bell action.
Asian exchanges traded mostly lower overnight on tech-sector softness, while European bourses edged mostly lower midday on the continent.
Fiserv (FISV) rose 4.9% pre-bell on media reports the financial tech enterprise may sell its STAR network, a debit card routing infrastructure, to a group of major US banks.
On the economic calendar is the international trade in goods and services bulletin for May, at 8:30 am ET.
In pre-market action, bitcoin traded at $63,180, West Texas Intermediate crude oil traded up 0.8% at $69.09, and 10-year US Treasuries offered 4.49%.
Spot gold.