Summary · why it matters
Nasdaq 100 E-Mini futures are down 0.30% this morning, pointing to further losses after semiconductor stocks led Wall Street lower in the previous session. Chip and AI infrastructure stocks were among the biggest losers in pre-market trading, with Sandisk down over 3% and Micron Technology and Marvell Technology down more than 2%. Sentiment remained dampened by Meta Platforms' plan to sell computing power, which fueled concerns about excess capacity, and news that Apple is in talks to buy chips from two Chinese manufacturers, sparking concerns about intensifying competition. Attention now turns to the release of the key U.S. jobs report, which will provide fresh clues on the path for interest rates. In yesterday's trading session, Wall Street's three main equity benchmarks ended in the red, with KLA Corp. tumbling over 11% and SanDisk plunging more than 10%, while Nebius Group slumped over 17% to lead losers in the Nasdaq 100 and CoreWeave slid more than 13% on a report that Meta Platforms was building a cloud infrastructure business.