US equity futures were little changed on Thursday as an uncertain macroeconomic backdrop and continued volatility in major chip stocks kept investors on edge. Contracts on the S&P 500 and Nasdaq 100 were broadly flat, while Dow futures inched lower, extending yesterday’s declines.
Memory chipmakers rallied sharply in premarket trading as investors reassessed the speculative outlook for AI infrastructure providers. Sentiment was further buoyed by the imminent launch of SK Hynix ADRs—set to begin trading tomorrow—with reports indicating the issue is around seven times oversubscribed. Shares of Micron and SanDisk were up about 3% in premarket dealings.
In contrast, more traditional sectors came under renewed pressure after having outpaced technology stocks in July. US Treasury yields moved higher as escalating tensions between Iran and the United States slowed tanker movements through the Persian Gulf, heightening concerns about potential energy-driven inflation.
Elsewhere, Meta slipped 2% following reports that the company aims to begin production of its own AI chip as early as September.
