NextFin News - U.S. equity futures were mixed in Thursday pre-market trading, with blue-chip futures slightly higher while technology futures lagged as pressure on chip and AI-linked shares continued. European markets traded broadly higher, crude oil extended declines and the dollar softened ahead of the holiday-shortened week.
1) Pre-Market Performance
- Nasdaq 100 futures: 30,029.8, down 64.5 points, or -0.21%, reflecting continued weakness in technology and semiconductor names.
- S&P 500 futures: 7,542.0, down 1.5 points, or -0.02%, pointing to a nearly flat open.
- Dow Jones futures: 52,720, up 52 points, or +0.10%, outperforming the growth-heavy Nasdaq contract.
European equities were firmer across major benchmarks: the FTSE 100 rose 60.51 points to 10,538.85 (+0.58%); France’s CAC 40 gained 73.35 points to 8,410.64 (+0.88%); and Germany’s DAX advanced 264.82 points to 25,305.10 (+1.06%).
Commodities and FX: WTI crude traded around $67.28, down $1.30 (-1.90%); Brent crude near $70.38, down $1.19 (-1.66%). Gold futures were little changed near $4,083.40 (+$1.00, +0.02%); Silver futures eased to about $60.33 (down -0.30%). The U.S. Dollar Index traded near 100.935 (down -0.22%).
2) Hot News
- Chip weakness remains the main drag on Nasdaq sentiment: Semiconductor shares stayed under pressure after Wednesday’s selloff, with Micron indicated lower and other names like SanDisk and Arm Holdings trading down ahead of the open.
- Futures subdued as investors stay cautious: U.S. stock-index futures were mixed as investors avoided aggressive positioning amid continued technology-sector rotation and unresolved geopolitical risks tied to the Middle East conflict.
- Oil trades lower as supply fears ease: Brent and WTI fell more than 1% as traders priced in improving Middle East supply conditions and reduced immediate disruption risk.
- Gold holds near recent highs: Gold remained supported as lower oil prices eased inflation concerns and investors kept defensive exposure.
- Holiday-shortened trading may thin liquidity: U.S. equity markets will close early at 1:00 p.m. ET (bonds at 2:00 p.m. ET) and be closed Friday, July 3, for Independence Day observance.
3) U.S. Stock Focus
- Lindsay Corporation — Earnings beat: Reported fiscal Q3 revenue of $160.8 million (down 5% YoY) and diluted EPS of $1.53; infrastructure revenue rose 8% while irrigation fell 7%, and the stock climbed about 5.3% pre-market after topping expectations.
- Palantir Technologies — Nvidia sovereign-AI partnership lifts shares: Palantir rose ~3.7% pre-market after expanding its AI partnership with Nvidia to enable Nemotron open models to run in sovereign, secure environments using Palantir’s infrastructure.
- Nvidia — Nemotron integration offsets broader chip pressure: Nvidia stayed in focus as Nemotron models were positioned in Palantir’s sovereign-AI deployment engine; the strategic news was positive despite broader semiconductor pullback.
- Robinhood Markets — Robinhood Chain launch: Announced an Arbitrum-based Layer 2 blockchain, stock tokens and new DeFi tools; shares rose about 3.1% pre-market on the expansion push.
- Ouster — Discounted stock offering: Fell ~7% pre-market after pricing a $200 million offering at $55.22 per share, below prior trading levels, raising dilution concerns.
- Bending Spoons — Pullback after strong Nasdaq debut: Slipped ~5.7% pre-market as investors took profits following a 39.7% debut surge; the IPO priced 58 million shares at $29, raising about $1.7 billion.
- Centrus Energy — DOE uranium-enrichment contract: Signed a competitively awarded $900 million HALEU task order, with total potential value up to $1.07 billion including options, supporting commercial-scale production plans.
- AeroVironment — $500 million defense contract: Gained after winning a $500 million firm-fixed-price contract for counter-UAS capabilities, running to an estimated completion date of June 29, 2029.
Overall, the pre-market tone is mixed: cyclical and European equities are firmer and the Dow is slightly positive, while energy prices are easing. However, Nasdaq futures remain pressured by ongoing selling in chip and AI-linked shares, and company-specific catalysts across AI software, crypto infrastructure, defense, uranium enrichment and IPO activity are driving stock-level moves.
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