AI Concerns Linger, Driving Premarket Losses for US Equity Futures

MT Newswires Live
Feb 17

US equity futures were down ahead of Tuesday's opening bell, with futures of technology-heavy Nasdaq Composite leading declines amid lingering concerns about artificial intelligence-driven disruption.

Dow Jones Industrial Average futures were down 0.2%, S&P 500 futures were 0.4% lower, and Nasdaq futures were down 0.8%.

Worries over the impact of AI on software and financial stocks and the potential labor market fallout already weighed on markets last week.

Oil prices were mixed, with front-month global benchmark North Sea Brent crude down 0.3% at $68.41 per barrel and US West Texas Intermediate crude up 0.9% at $63.31 per barrel.

The February Empire State manufacturing index, released at 8:30 am ET, came in at 7.1, down from 7.7 in the prior month and above the 6.2 expected by economists surveyed by Bloomberg.

The February housing market index, due at 10 am ET, is seen coming in at 38 versus 37 previously.

In other world markets, Japan's Nikkei finished 0.4% lower, while the Hong Kong and Chinese markets were closed for holiday. UK's FTSE 100 was up 0.4%, and Germany's DAX index was up 0.1% in Europe's early afternoon session.

In equities, Masimo (MASI) shares were 34% higher pre-bell after Danaher (DHR) said it has agreed to acquire the medical technology company for $180 per share in cash, or a total enterprise value of about $9.9 billion, including debt and net of acquired cash. ZIM Integrated Shipping Services (ZIM) stock was up 35%, a day after the company said it has agreed to be acquired by Hapag-Lloyd in a deal worth about $4.2 billion.

On the losing side, Medtronic (MDT) shares were 3.5% lower after the company reported lower fiscal Q3 non-GAAP earnings. Vulcan Materials (VMC) stock was down more than 6% after the company reported lower Q4 adjusted earnings year over year. Danaher shares were over 5% lower.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10