US stocks-Wall St futures mixed as chip weakness weighs

Chip stocks extended declines from the previous session when investors rotated into megacap technology names and banks following strong results from major lenders. U.S.-listed shares of TSMC TSM.N fell 4.6% in premarket trading, even after the advanced AI chipmaker reported a 77% jump in second-quarter profit that topped market expectations. The company also said it would invest an additional $100 billion in the United States. Memory-chip makers were among the biggest decliners, with Western Digital WDC.O and Seagate Technology STX.O down 7.2% and 5.8%, respectively. Chip stocks were earlier among the biggest beneficiaries of this year's rally, as optimism around AI spending by hyperscalers helped drive Wall Street to record highs. At 07:13 a.m. ET, Dow E-minis YMcv1 were up 95 points, or 0.18%, and S&P 500 E-minis EScv1 were down 14.75 points, or 0.19%. Nasdaq 100 E-minis NQcv1 were down 210.25 points, or 0.71%. The main three U.S. indexes rose for a second straight session on Wednesday as this week's benign inflation reports for June eased inflation concerns and reduced worries over tighter Federal Reserve policy. A strong start to the second-quarter earnings season also supported sentiment, even as U.S.-Iran tensions simmered in the background. "While geopolitical dynamics may trigger setbacks, earnings should remain the key driver of performance for the remainder of the year," said Mark Haefele, chief investment officer at UBS Global Wealth Management. "In fact, with the U.S. second-quarter earnings season kicking off with solid beats, we expect another strong set of results in the coming weeks." Later in the day, investors will monitor retail sales and jobless claims reports at 8:30 a.m. ET for further signs of whether the economy is cooling without raising worries about growth. Markets are currently pricing in about 90% likelihood that the Fed will stay on hold at this month's monetary policy meeting, according to CME's FedWatch tool. The benchmark S&P 500 .SPX has climbed more than 10% this year and remains near its June record close, leaving the rally vulnerable to any disappointment in data or earnings. GE Aerospace GE.N dipped 4.2%, despite the jet-engine maker lifting its 2026 profit forecast. United Airlines UAL.O fell 3.1% as a renewed surge in oil prices weighed on its third-quarter and full-year profit outlooks. Netflix NFLX.O is scheduled to report its after the market's close. U.S. stock index futures were mixed on Thursday as weakness in chip stocks kept sentiment subdued ahead of fresh economic data, while upbeat results from UnitedHealth offered some support. The latest in a wave of positive quarterly results, UnitedHealth UNH.N raised its 2026 profit forecast, sending shares of the healthcare giant up 6.7% before the bell and helping lift Dow futures YMcv1. Peers Humana HUM.N and Centene CNC.N gained 5% and 4.2%, respectively.

US stocks-Wall St futures mixed as chip weakness weighs

Chip stocks extend declines

Markets await data and more earnings

Company movers include GE Aerospace and United Airlines

Futures mixed as chip weakness and earnings drive sentiment

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