03.02.202623:45:19UTC+00US Futures Steady After Tech-Led Selloff

On Wednesday, U.S. stock futures stabilized after technology stocks led the major indexes downward in the previous session, as investors evaluated a new round of earnings reports. After the market closed, Advanced Micro Devices dropped over 8% following a Q1 forecast that disappointed expectations, while Chipotle fell approximately 6% due to a fourth consecutive quarter of declining traffic. On the other hand, Match Group surged 7% as it reported earnings and revenue that exceeded forecasts. During Tuesday's regular trading session, the Dow decreased by 0.34%, the S&P 500 was down 0.84%, and the Nasdaq Composite fell 1.43%, as investors moved away from high-value technology stocks and shifted towards more cyclical options. The decline was particularly pronounced in artificial intelligence and semiconductor stocks, with significant drops in companies such as Nvidia (-2.8%), Microsoft (-2.9%), Micron (-4.2%), Broadcom (-3.3%), and Oracle (-3.4%). The focus now shifts to Alphabet’s earnings report on Wednesday, followed by Amazon’s on Thursday.