Yahoo Finance
US stock futures fell on Tuesday after Samsung's (016360.KS) quarterly results sparked renewed selling in chip stocks and oil prices edged higher.
Futures attached to the Dow Jones Industrial Average(YM=F)rose 0.2% on the heels of a record-setting day on Wall Street, while contracts on the S&P 500(ES=F)and the Nasdaq 100(NQ=F)fell 0.2% and 1%, respectively.
Volatility continued in the tech trade after Samsung reported colossal profits in the second quarter.
Surging demand for artificial intelligence helped lift Samsung's Q2operating profit 19-fold; however, concerns about its AI spending plans and future demand spooked investors, leading to broader selling pressure across the semiconductor sector.
The pullback in tech stocks weighed on markets on Tuesday following a rally the day before that lifted the Dow (^DJI) to a record high above 53,000.
The S&P 500 and Nasdaq also gained on Monday amid renewed faith in the AI trade following June's chip stock sell-off.
Meanwhile, oil prices rose following reports of Iranian attacks on commercial ships in the Strait of Hormuz.
Traffic through the critical waterway had been graduallypicking back up, though markets remain attuned to the risk of the fragileUS-Iran peace deal breaking down.
Brent crude oil futures (BZ=F) rose above $72 per barrel while those on WTI crude oil (CL=F) climbed to $69 per barrel..
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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