US stock futures indicated a weaker open as semiconductor stocks faced renewed selling pressure, with Nasdaq-100 futures down 0.9%. Concerns over AI spending returns contributed to the market's cautious sentiment.
US stock futures pointed to a weaker opening on July 28, as semiconductor stocks experienced a fresh sell-off, with Nasdaq-100 futures declining by 0.9%. The downturn was driven by investor concerns regarding the returns on substantial investments in artificial intelligence (AI). Notably, Micron Technology saw a 4.5% drop in its stock price. The market sentiment remains cautious ahead of a busy week for central bank announcements, further complicating the outlook for investors. Brent crude oil prices also slipped below $85, adding to the overall market unease.