.jpg)
3 hours ago
7
Article content
(Bloomberg) — S&P 500 Index futures are down 0.6% as of 7:50 a.m. in New York on concerns about artificial intelligence spending.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
- Nasdaq 100 futures fall 1.2%
- Dow Jones Industrial Average futures are up 0.2%
- The MSCI World Index is down 0.2%
Article content
Article content
Here are some of the biggest US movers before the bell:
Article content
- OpenAI partners such as CoreWeave (CRWV -7%) and Oracle (ORCL -7%) are falling after the Wall Street Journal reported that the AI startup recently failed to meet targets for sales and new users, reviving worries about spending ahead of tech earnings.
- Stocks linked to the buildout of AI infrastructure — from computing providers to the makers of semiconductors and power equipment used in data centers — are also down after the Wall Street Journal report on OpenAI.
- Magnificent Seven stocks:
- Nvidia (NVDA) falls 2% on the OpenAI report.
- Apple (AAPL) +0.4%, Alphabet (GOOGL) -0.1%, Amazon (AMZN) -0.9%, Meta Platforms (META) -0.8%, Microsoft (MSFT) -1.2%, Tesla (TSLA) -1.2%
- Celestica (CLS) falls 13% after the maker of electronic components reported first-quarter results that featured smaller upside to expectations than in recent quarters. While it raised its full-year forecast, analysts said the company had been facing high expectations.
- Dynatrace (DT) gains 4% on a report that Starboard Value LP took a stake and is pushing the company to better capitalize on the shift to artificial intelligence.
- Erasca (ERAS) slides 40% after the biotech said one patient withdrew from the trial after a severe treatment-related adverse event and later died, according to a filing.
- General Motors (GM) rises 4% after raising its profit outlook for the year by $500 million, saying its pickups and sport utility vehicles continue to sell even as gasoline prices soar due to the war in Iran.
- LendingClub (LC) rises 9% after the online lender’s first-quarter revenue and net interest income beat the average analyst estimate.
- Nucor (NUE) rises 2% after the steelmaker reported first-quarter earnings per share that beat the average analyst estimate as steel shipments were stronger than expected.
- Rambus (RMBS) plunges 17% after the semiconductor device manufacturer reported first-quarter results that were largely in line with expectations, which analysts said was a disappointment in the wake of recent strength in the stock.
- Sanmina (SANM) rises 7% after the electronics contract manufacturing services company’s second-quarter results beat expectations and it gave a full-year outlook that is seen as positive.
- Solaris Energy (SEI) rallies 5% after the firm’s first-quarter Ebitda beat the average analyst estimate.
- Spotify Technology falls 11% after reporting results that underwhelmed Wall Street, forecasting operating income in the current quarter that missed analysts’ estimates.
- UPS (UPS) falls 3% after the courier left financial guidance unchanged. Its profit beat expectations in the first quarter.
Article content
Article content
Article content
Advertisement 1
English (US)