Nasdaq Futures Decline as Tech Stocks Weaken
Stock futures are lower this morning as markets come under pressure ahead of the open amid another wave of weakness hitting large-cap technology and semiconductor stocks. Nasdaq futures are leading declines, giving back part of yesterday's AI-driven rebound. Semiconductor shares are reversing part of the post-Micron rally, while concerns around rising hardware costs and pricing power in the broader tech ecosystem are weighing on sentiment.Outside of technology, falling oil prices are acting as a stabilizing force. Crude has moved toward multi-month lows as supply concerns continue easing, helping reduce some inflation pressure and potentially improving the broader economic outlook.In pre-market trading, S&P 500 futures fell 0.57%, Nasdaq futures fell 1.39% and Dow futures were down 0.25%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Synapticsup 3% after entering into a definitive agreement under which On Semihas agreed to acquire the company in an all-stock transaction, representing a total enterprise value of approximately $7BRocket Labup 1% after being selected by NASA to provide three Electron launches for two separate NASA missions - PolSIR and TSIS-2 - from early next yearUP AFTER EARNINGS -Apogee Enterprisesup 10%DOWN AFTER EARNINGS -Quantum Corpdown 4%Beyond Airdown 1%LOWER -On Semidown 14% after entering into a definitive agreement under which the company has agreed to acquire Synaptics in an all-stock transaction, representing a total enterprise value of approximately $7BFortreadown 2% after announcing that Jason Knoblauch has been appointed as CFO, succeeding Jill McConnell,who is stepping down
