Stocks looked set to struggle for direction on Thursday as the artificial-intelligence trade carried on losing momentum.
Advanced Micro Devices slid 3.1%, Dell Technologies declined 3.6%, Intel fell 1.8%, Micron dropped 3.8%, and Sandisk sank 6.8% as Wall Street wondered how long the AI spending boom can last.
But another batch of strong earnings reports was helping to offset that.
UnitedHealth jumped 6.6% after the health insurer posted a better-than-expected second-quarter profit and raised its full-year outlook. Peers Centene and Humana were up 4.2% and 4.5%, respectively, ahead of the opening bell.
J.B. Hunt Transport Services was the S&P 500's top performer ahead of the opening bell, rising 7.1%. The trucking company delivered better-than-expected second-quarter results as demand improves across its sector.
Taiwan Semiconductor Manufacturing Co. failed to ease some of the market's AI worries, though. The Taiwanese chip maker reported a sharp surge in second-quarter earnings and revenue but said it would invest an extra $100 billion in the U.S., which may have spooked Wall Street. Its American depositary receipts dropped 4.4% in the premarket.
Video streamer Netflix and aluminum producer Alcoa are both set to report earnings after Thursday's closing bell.
Write to George Glover at george.glover@dowjones.com
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(END) Dow Jones Newswires
July 16, 2026 08:18 ET (12:18 GMT)
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