S&P 500 Futures Show Modest Recovery, Semiconductor Stocks Under Pressure
S&P futures are showing modest signs of recovery ahead of the open. Markets are attempting to stabilize this morning after a sharp technology-led selloff rattled investors over the last two sessions. Semiconductor stocks have been at the center of the pressure, with investors reassessing valuations after an extended run higher.Investors are closely watching earnings from memory-chip maker Micron, which could become an important read-through for broader AI infrastructure spending. Recent weakness in chip shares has revived concerns about whether massive spending on AI data centers and hardware can continue at the same pace.At the same time, oil prices are falling. Crude has continued declining as concerns around Middle East supply disruptions ease and shipping through the Strait of Hormuz normalizes. Cheaper oil could eventually improve the broader macro backdrop if the trend holds.In pre-market trading, S&P 500 futures rose 0.23%, Nasdaq futures rose 0.4% and Dow futures slipped 0.02%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Wendy'sup 25% amid heightened interest on Stocktwits and Reddit's r/WallstreetbetsFuelCellup 16% after announcing a strategic agreement for up to 380 megawatts of on-site power for data centers with Fit EnergyTwilioup 4% after Goldman Sachs initiated coverage of the stock with a Buy rating and $300 price targetUP AFTER EARNINGS -Daktronicsup 7%DOWN AFTER EARNINGS -Cerebras Systemsdown 10%FedExdown 6%LOWER -Hertzdown 21% after filing to sell $100M of common stock to be loaned by the company to a financial institution
