S&P 500 and Dow set for slight gains as chip and software stocks slide
AI Market Summary
US index futures signal rotation risk: S&P 500 and Dow were modestly higher on Middle East deal hopes, while Nasdaq lagged as AI-memory and software names sold off despite solid guidance. Crowded high-momentum chip stocks (Western Digital, Sandisk, Micron) and several software firms fell sharply after earnings, cooling the AI-linked rally. Macro focus remains on oil-sensitive inflation and a more balanced September Fed decision probability.
Impact level
● Medium
Affected assets
NCSINASDAQ1002USD/USDT-0.75%
AI Insight · NCSINASDAQ1002USD/USDTAI Insight
● Neutral
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U.S. chip stocks slid sharply in premarket trade, with Western Digital down 14.4% and Sandisk off 10.4% as profit-taking hit the AI memory trade and crowded momentum names were sold. AppLovin fell 19% and Datadog dropped 15.6% after results that missed expectations, while Apple rose 1%. Nasdaq futures were lower, but the S&P 500 and the Dow were poised to open modestly higher.
