US equity futures were mixed on Thursday as renewed pressure on the AI-related segment weighed on technology shares, partly offset by some relief in Treasuries. The S&P 500 fell 0.5%, while the Nasdaq 100 declined 1.4%. Broadcom slid more than 10% in premarket trading despite topping earnings estimates, after its forecast for AI chip revenue came in below most analysts’ expectations. The news reignited concerns that the recent surge in AI capital expenditure by the largest US companies—key drivers of equity indices in recent quarters—may not be sustainable. CrowdStrike also dropped more than 10% following its earnings release.
Energy prices pared the gains from previous sessions amid signs that the US is seeking to reach a deal with Iran. Treasuries found support as well, helped by the latest data showing an increase in announced job cuts. In contrast to the broader weakness in tech, the Dow rose more than 0.5%, as financials and consumer staples rebounded from yesterday’s slump, with JPMorgan and Procter & Gamble each advancing more than 1%.
