NextFin News - U.S. equity futures are mixed ahead of the open, with technology under modest pressure after Thursday's AI-led rally while blue-chip futures hold slightly positive. Investor attention remains concentrated on post-earnings reactions in software, semiconductors and cybersecurity, while oil is lower and European equities are trading broadly higher.
1) Pre-Market Performance
- Nasdaq 100 futures: 29,603.00, down 92.75 points, or -0.31%.
- S&P 500 futures: 7,740.00, down 2.50 points, or -0.03%.
- Dow Jones futures: 53,655.00, up 34.00 points, or +0.06%.
European markets: The FTSE 100 is at 10,808.07, up 15.53 points, or +0.14%. France's CAC 40 is at 8,399.79, up 79.92 points, or +0.96%. Germany's DAX is at 26,498.73, up 131.49 points, or +0.50%.
Commodities and forex: WTI crude is trading near $82.92, down 0.73%, while Brent crude is near $88.00, down 0.59%, extending a cautious tone in energy after the prior session's rebound. Gold futures are near $4,643.74, down 0.43%. The U.S. Dollar Index is around 99.14, up 0.05%.
2) Hot News
- Futures pause after tech-led rally: S&P 500 and Nasdaq futures are slightly lower after Thursday's rally, with traders digesting whether the latest AI-driven earnings momentum can broaden beyond a narrow group of large technology names. Dow futures are holding marginal gains, leaving the pre-market tone mixed rather than decisively risk-on.
- Global equities supported by U.S. tech strength: European shares are higher, with the CAC 40 and DAX outperforming the FTSE 100. The move follows a strong U.S. technology session, but investors are still balancing earnings optimism against valuation and rate-sensitivity risks.
- Oil heads for weekly decline despite Iran-related tensions: Brent and WTI are lower in early trading and remain on track for weekly losses, even as Middle East supply risks stay in focus. The energy market is weighing diplomatic uncertainty against signs that traders are reluctant to rebuild a full geopolitical risk premium.
- Gold holds near elevated levels: Gold is trading near the mid-$4,600 area after recently reaching its highest level since mid-May. A firmer dollar and profit-taking are limiting upside, while elevated policy uncertainty and geopolitical risk continue to provide a floor for precious metals demand.
3) U.S. Stock Focus
- Nvidia — Shares ease after AI-driven surge: Indicated lower by about 1% in pre-market trading after jumping 8.74% on Thursday to $227.98 on volume of roughly 298.91 million shares. The stock remains the key barometer for AI infrastructure sentiment after its latest results reignited the technology rally.
- Marvell Technology — Record Q2 revenue, but stock softens: Reported fiscal Q2 revenue of $2.739 billion, up 37% year over year, with non-GAAP diluted EPS of $0.94. The company guided fiscal Q3 revenue to about $3.150 billion, plus or minus 5%, but the stock is trading around $241.45, down 1.49% in pre-market indications as investors assess AI data-center expectations.
- Workday — Q2 beats, guidance scrutinized: Reported fiscal Q2 revenue of $2.649 billion, up 12.8%, with subscription revenue of $2.471 billion, up 13.9%. Non-GAAP EPS came in at $2.75, but shares are lower in pre-market trading, around $188.75, down 2.49%, as investors focus on the pace of subscription growth.
- Autodesk — Strong Q2 results meet cautious reaction: Posted fiscal Q2 revenue of $2.046 billion, up 16%, with non-GAAP EPS of $3.30 and free cash flow of $561 million. Despite raising fiscal 2027 billings and revenue growth guidance, the stock is indicated near $235.27, down 7.65% pre-market, reflecting concern over valuation and forward margins.
- Rubrik — Raised outlook, but shares pull back: Reported fiscal Q2 revenue of $427.3 million, up 38%, and subscription ARR of $1.66 billion, up 33%. The company raised full-year revenue guidance to $1.685 billion to $1.693 billion, but shares are down more than 8% in pre-market trading after a strong year-to-date advance.
- PayPal — Takeover hopes fade: Shares are down about 17% in pre-open trading near $50.98 after a consortium including Advent International and Stripe reportedly abandoned a more than $50 billion pursuit. The pullback shifts attention back to PayPal's underlying growth, branded checkout trends and Venmo competition.
- Lucid Group — NHTSA recall over fire risk: Recalling 27,185 Air luxury sedans in the U.S. because an exterior lighting circuit could overheat and increase fire risk. The notice asks owners to park vehicles outside and away from structures until the remedy is in place, although Lucid has released an over-the-air software update and more than 20,000 vehicles have already received it.
- Alphabet — Google changes EU spam policy: Alphabet's Google said it changed its spam policy in Europe to address EU concerns that could have led to an antitrust fine. The change applies across the European Economic Area from August 30, while the policy remains unchanged outside the region; shares are indicated modestly lower in pre-market trading.
- SentinelOne — Revenue and ARR rise, EPS outlook weighs: Reported fiscal Q2 revenue of $292 million, up 21%, and ARR of $1.218 billion, up 22%. The company raised its revenue and operating-income outlook, but guidance for full-year non-GAAP EPS of $0.30 to $0.32 is being closely scrutinized after a volatile after-hours reaction.
- Ulta Beauty — Q2 sales rise, buyback plan increased: Reported fiscal Q2 net sales of $3.036 billion, up 8.9%, with comparable sales up 3.8% and diluted EPS of $6.55. The company raised its fiscal 2026 EPS outlook to $28.70 to $29.00 and increased its fiscal-year stock repurchase plan to $1.8 billion.
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