Nasdaq futures slip as Korea tumble weighs on tech
Michael M. Santiago/Getty Images News
Stock index futures were mixed before the bell Tuesday, as a 4% tumble in South Korea's market brought back AI trade worries.
Dow futures (INDU) rose +0.25% while S&P 500 futures (SPX) edged down -0.03% and Nasdaq 100 futures (US100:IND) fell -0.45%, reflecting continued weakness in the technology sector.
Treasury yields eased across the curve. The 2-year Treasury yield (US2Y) slipped to 4.78%. The 10-year Treasury yield (US10Y) fell to 5.13%, while the 30-year yield (US30Y) dipped to 5.46%. At the shorter end, the 12-month yield (US12M) dropped to 4.47%, and the 5-year yield (US5Y) eased to 4.93%.
"On the bright side, the AI selloff began to stabilize, with the Philly semiconductor index (SOXX) finally breaking a run of 8 consecutive declines," Deutsche Bank strategist Jim Reid said. "That said, tech stocks in Asia have weakened again so the volatility continues."
Top gainers premarket included The Sherwin-Williams Company (SHW) +5.71%, Dover Corporation (DOV) +4.99%, and Roper Technologies (ROP) +4.12%. Decliners included Garmin Ltd. (GRMN) -7.89%, and Steel Dynamics (STLD) -6.16%.
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