US futures mixed as Dow rises, S&P and Nasdaq slip
US stock futures were all over the place on Tuesday. The Dow was up, but the S&P 500 and the Nasdaq slipped as investors tried to make sense of bank earnings and some drama in the tech world.
A big reason? People are worried about how much cash is being poured into AI and how tough the chip maker competition is getting.
Bank stocks rally, chip makers pressured
JPMorgan and Goldman Sachs had a good morning, Goldman especially, with shares jumping after strong trading results.
But for tech giants like NVIDIA, AMD, and Broadcom, it wasn't so bright; their stocks fell as China's CXMT was narrowing the technology gap with Samsung, SK Hynix, and Micron, raising the prospect of greater competition.
Meanwhile, Apple, Microsoft, and Alphabet were all drifting higher premarket despite all the AI investment buzz.