U.S. stock futures are mixed this morning, with technology stocks facing significant pre-market pressure following an intense global sell-off. Investors are cautious ahead of key economic data that could influence the Federal Reserve's stance on interest rates.
Stocks to Watch:
- Nvidia Corporation, Micron Technology, Inc., Advanced Micro Devices, Inc., and Tesla, Inc. are all lower in pre-market trading, continuing the recent slide in technology and AI-related shares.
- Taiwan Semiconductor Manufacturing Company reported a record third-quarter profit but provided a cautious outlook for 2027, which could impact the broader semiconductor sector.
- Bank of America Corporation declined 4.8% yesterday after missing third-quarter profit and revenue estimates.
- Oracle Corporation dropped 9.11% yesterday amid the broader AI stock sell-off, driven by concerns over profit margins and project delays.
Looking ahead, markets are focused on the Producer Price Index (PPI) and Retail Sales data releasing at 8:30 AM. Stronger-than-expected figures could heighten inflation concerns and put further pressure on equities.