S&P 500 Futures fell 0.3% to 7,331 points by 04:45 ET (08:45 GMT), and Nasdaq 100 Futures dropped 0.9% to 29,460 points. Dow Jones Futures edged up 0.1% to 52,386.0 points, highlighting a divergence between tech-heavy benchmarks and more defensive sectors.<\/p>\n
The New York Times reported that OpenAI is considering postponing its public market debut to 2027, later than earlier expectations of an IPO before end-2026. The development raised questions about public market appetite for high-valuation AI names, particularly as the sector faces high, often debt-funded capital expenditures with limited tangible returns so far.<\/p>\n
Asian equities linked to OpenAI came under pressure. SoftBank Group Corp., described as heavily exposed to the artificial intelligence startup, fell 13% in Japanese trading, while Samsung Electronics and SK Hynix, both of which have tie-ups with OpenAI, declined between 4% and 6%.<\/p>\n
The prospect of an OpenAI delay followed a period of optimism around technology listings, including a record-setting June debut by Elon Musk\u2019s SpaceX. However, already stretched tech valuations now appear vulnerable amid expectations of higher borrowing costs, which tend to weigh on growth stocks by reducing the present value of future earnings and increasing financing costs.<\/p>\n
For the week, the NASDAQ Composite and the S&P 500 were set to lose 4.4% and 1.9%, respectively, as uncertainty over AI spending and rising interest rates prompted a pullback in technology names. In contrast, the Dow Jones Industrial Average was on track for a 0.7% gain, with investors shifting into more defensive sectors such as healthcare and utilities.<\/p>\n
Apple Inc. declined 6.1% after raising prices for its iPads and MacBooks to offset higher memory chip costs linked to AI-driven demand. Micron Technology Inc. moved sharply in the opposite direction, surging nearly 16% and supporting a 3.6% advance in the Philadelphia Semiconductor Index.<\/p>\n
On the macroeconomic front, fresh data showed U.S. inflation surpassing 4% for the first time in three years, adding to a hawkish narrative around the Federal Reserve. Markets quickly repriced expectations for tighter policy, with the CME FedWatch Tool indicating a 64% probability of a 25-basis-point rate hike in September.<\/p>\n
In commodities, reports of a fresh attack on a cargo vessel in the Strait of Hormuz raised questions over the durability of a U.S.-Iran peace deal. Oil prices gained on Thursday but remained at pre-war levels.<\/p>\n
Why are Nasdaq and S&P 500 futures under pressure?<\/strong> How did inflation data affect interest-rate expectations?<\/strong> Which major tech-related stocks moved sharply?<\/strong> How did AI-linked Asian stocks react to the OpenAI news?<\/strong>
They are declining mainly due to weakness in technology shares, driven by concerns over AI valuations, the potential delay of OpenAI\u2019s IPO, and rising interest-rate expectations.<\/p>\n
With U.S. inflation crossing 4% for the first time in three years, traders now see a 64% chance of a 25-basis-point Federal Reserve rate hike in September, according to the CME FedWatch Tool.<\/p>\n
Apple Inc. fell 6.1% after raising prices for iPads and MacBooks, while Micron Technology Inc. rose nearly 16%, helping lift the Philadelphia Semiconductor Index by 3.6%.<\/p>\n
SoftBank Group Corp. dropped 13%, and Samsung Electronics and SK Hynix fell between 4% and 6%, reflecting concerns over the implications of a delayed OpenAI IPO.<\/p>\n