S&P and Dow Set to Extend Gains, Nasdaq Down
US stock futures were mixed on Thursday, with S&P 500 futures up 0.2% and Dow Jones futures gaining around 330 points, while Nasdaq 100 futures fell 0.6%. The mixed performance followed a strong rally in the previous session, triggered by a Democratic sweep of Congress in the US midterm elections. The rotation away from AI-related and technology stocks continued, amid concerns that the Democrats' victory could lead to tighter regulations on US data centres and weigh on semiconductor demand. In premarket trading, Apple rose 0.9%, Microsoft gained 0.4%, Alphabet advanced 1.6%, Amazon climbed 1.6% and Meta added 1.2%. Gains were also recorded by Eli Lilly (+1.1%), JPMorgan (+1.5%) and Walmart (+1.2%). In contrast, semiconductor stocks came under renewed pressure, with Nvidia falling 1.1%, Broadcom declining 1.9% and Micron Technology dropping 3.9%. Tesla and SpaceX also extended their losses, both down 1.9%. Qualcomm plunged nearly 10% after issuing a lacklustre profit forecast.
US stock futures were mixed on Thursday, with S&P 500 futures up 0.2% and Dow Jones futures gaining around 330 points, while Nasdaq 100 futures fell 0.6%. The mixed performance followed a strong rally in the previous session, triggered by a Democratic sweep of Congress in the US midterm elections. The rotation away from AI-related and technology stocks continued, amid concerns that the Democrats' victory could lead to tighter regulations on US data centres and weigh on semiconductor demand. In premarket trading, Apple rose 0.9%, Microsoft gained 0.4%, Alphabet advanced 1.6%, Amazon climbed 1.6% and Meta added 1.2%.
Gains were also recorded by Eli Lilly (+1.1%), JPMorgan (+1.5%) and Walmart (+1.2%). In contrast, semiconductor stocks came under renewed pressure, with Nvidia falling 1.1%, Broadcom declining 1.9% and Micron Technology dropping 3.9%. Tesla and SpaceX also extended their losses, both down 1.9%. Qualcomm plunged nearly 10% after issuing a lacklustre profit forecast.