U.S. futures are pointing to a weaker market open, extending a global technology-driven selloff that led to sharp declines in Asian markets and multi-week lows for cryptocurrencies. This broad weakness comes as investors weigh the impact of rising costs and potential central bank actions.
Stocks to Watch:
- Micron Technology, Inc.: Soared 15.7% after strong earnings and an optimistic outlook, providing a bright spot in the semiconductor sector.
- Apple Inc.: Fell 6.1% after hiking product prices due to rising memory costs, which negatively impacted the broader technology market.
- SoftBank Group Corp.: Dropped over 12% in Asian trading following reports of a delay in OpenAI's IPO, affecting sentiment in the global AI sector.
Looking ahead, traders will be closely watching the final Consumer Sentiment report at 10:00 AM for insights into consumer spending habits and potential impacts on Federal Reserve policy.