S&P 500 futures were nearly flat and Nasdaq 100 futures fell 0.63% on Thursday as chip and data-center stocks came under pressure after a post-election rally. Dow futures rose 0.48%.
At 5:04 a.m. ET, Dow E-minis were up 0.48%, S&P 500 E-minis were up 0.01% and Nasdaq 100 E-minis were down 0.63%. The S&P 500 had posted its biggest one-day percentage gain in three months on Wednesday after Democrats’ midterm victory eased political uncertainty.
Qualcomm fell 10.1% in premarket trading after fourth-quarter smartphone chip sales missed Wall Street estimates amid sluggish demand and declining Apple-related revenue. Nvidia, Marvell Technology and Intel also traded lower. Data-center operators, AI infrastructure companies, utilities and equipment suppliers were under pressure; UBS strategists said pauses to data-center projects put about 30% of expected 2028 additions at risk of being affected.
Amazon, Meta Platforms and Alphabet rose around 0.5% each. Fair Isaac fell 9% after missing fourth-quarter profit estimates, Snap slid 10.1% after missing third-quarter revenue estimates, and AppLovin jumped 16.4% after beating third-quarter profit estimates. Brent crude futures rose more than 1% after dropping over 8% on Wednesday.
