VGT is trading 2% down today as Oracle slides and Nasdaq futures slip ahead of key earnings reports from Microsoft and Meta.
- Oracle (ORCL) fell 4.2% in pre-market trading following concerns over OpenAI revenue contributions from its cloud partnership.
- Investors are showing caution ahead of quarterly results from heavyweights Microsoft and Meta, both scheduled to report today.
- Nasdaq Composite futures are down 0.68%, though news of Microsoft ending its OpenAI exclusivity is providing a slight offset to the downward pressure.