Tech news in 3 minutes
Stock Futures Little Changed as Earnings Season Continues
Stock futures were flat Tuesday night as investors focused on upcoming tech earnings from ServiceNow, IBM, Tesla, Texas Instruments, Alphabet, and AT&T, with the semiconductor ETF SMH surging 4% on renewed AI demand, while oil prices extended gains on Middle East tensions. Dow Jones Industrial Average futures dipped 16 points, while S&P 500 and Nasdaq-100 futures were unchanged. In Asia, South Korea’s Kospi led with a 5% advance, Japan’s Nikkei 225 added 0.34%, and Australia’s ASX 200 rose 0.12%. The major U.S. averages snapped a three-session losing streak Tuesday, supported by better-than-expected earnings from 3M and General Motors, easing concerns about corporate health. Chipmakers fueled the rally as investors rotated back into artificial intelligence-related names. The VanEck Semiconductor ETF (SMH) climbed 4%. “Q2 earnings season is ramping up, but with most hyperscalers yet to report, the market is still waiting for the definitive read on how AI investment is being monetized,” said Julia Hermann, global market strategist at New York Life Investment Management. Earnings take center stage Wednesday, with attention on AI spending, cloud demand, corporate tech budgets, and second-half outlooks. Meanwhile, oil extended its rally: Brent crude rose 2% to $91.01 a barrel, and U.S. West Texas Intermediate gained 2% to $84.91, as escalating Middle East tensions raised supply disruption concerns.