US stock futures were mixed on Thursday as investors weighed fresh inflation data against growing concerns over AI-related debt and a deepening sell-off in the semiconductor sector.
Futures for the Dow Jones Industrial Average (^YM=F) rose 0.2% while the S&P 500 (ES=F) futures declined 0.3%. Contracts for the Nasdaq-100 (NQ=F) fell more than 1%.
The declines in the Nasdaq and S&P extended Wednesday’s losses after a hot inflation print sparked fears of Fed tightening.
26,692.87 -511.53 (-1.88%)
At close: October 14 at 5:15:59 PM EDT
^IXIC ^DJI ^GSPC
Semiconductor stocks continued to sell off as the KOSPI index (^KS11) declined 7% overnight. Taiwan Semiconductor Manufacturing Company (TSM) stock was poised to open lower on Thursday despite posting a record profit and beating estimates amid global demand for AI chips.
Concerns over borrowing costs also weighed on the AI trade, hitting shares of Nvidia (NVDA)-backed CoreWeave (CRWV).
The stock’s sell-off underscored concerns about the neo-cloud provider’s debt-heavy balance sheet and whether it can scale its business quickly enough to cover rising interest expenses.
Separately, Apple (AAPL) stock gained in premarket after once again crossing the $5 trillion mark, just months after it first touched the threshold in late July.
Meanwhile, new data showed September’s wholesale inflation index rose at its fastest pace since 2022, sparking fresh concerns about how rising prices may affect the Federal Reserve’s next move.
Brent crude futures (BZ=F), the global benchmark, fell to $104 per barrel.
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