Wall St futures slide as rising oil, yields dampen mood
SPY•U.S. stock futures fell, with Dow futures down 0.78%, S&P 500 futures down 0.4% and Nasdaq 100 futures down 0.57%, as oil prices and Treasury yields rose.
1. Futures fall
U.S. stock index futures fell on Thursday as oil jumped nearly 4% and Treasury yields rose. Brent crude gained more than 4%, while the 10-year Treasury yield climbed to 5.34%.
2. Chip stocks weaken
Samsung forecast a record quarterly profit of $80.2 billion, above analysts’ estimates, but its shares closed marginally lower. In premarket trading, Nvidia fell 0.6%, Broadcom eased 1.4% and Micron dropped 1.2%. Broadcom is reportedly lining up $50 billion in financing for OpenAI, while Oracle is also seeking an unspecified sum.
3. Other company movers
Wolfspeed rose 16.6% after receiving a $1.5 billion conditional Defense Department loan commitment to expand U.S. production of silicon carbide materials and power devices. Applied Digital gained 3.5% after its first-quarter revenue more than quadrupled to $341.9 million.
