The S&P 500 Index is down 0.19% today, while the Dow Jones Industrial Average has reached a new all-time high despite a slight uptick of 0.04%. The Nasdaq 100 Index has decreased by 1.43%. Notably, September E-mini S&P futures are down 0.25%, and September E-mini Nasdaq futures have dropped 1.50%.
Chipmakers are under pressure following disappointing earnings from Samsung Electronics, which, despite a 19-fold surge in profit, saw its stock drop over 8% in South Korea. This has heightened scrutiny of semiconductor valuations amid concerns over sustainability in AI spending. Additionally, crude oil prices rose by more than 1% due to recent attacks near the Strait of Hormuz, raising inflation expectations that pushed the 10-year T-note yield to a two-week high of 4.51%. The U.S. May trade deficit widened to $77.6 billion, the largest in 14 months, marking a negative factor for Q2 GDP.
Market forecasts suggest a potential 23% increase in Q2 earnings, primarily driven by AI infrastructure stocks, contributing nearly 60% of the S&P 500’s earnings-per-share growth. Meanwhile, overseas markets show declines, with the Euro Stoxx 50 down 0.53% and Japan’s Nikkei-225 falling 2.12%.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
