Key insights
- US stock futures declined due to renewed US-Iran tensions and anticipation of key inflation data. Photronics slumped on weak revenue due to memory chip supply issues, signaling potential weakness in the semiconductor sector. Best Buy surged on strong sales forecasts, indicating resilient consumer demand for electronics. Caesars Entertainment rose on acquisition news.
Investing.com - U.S. stock futures pointed lower on Thursday, as a fresh exchange of strikes in Gulf dented hopes for a U.S.-Iran peace deal and investors geared up for key inflation data closely watched by the Federal Reserve.
By 06:37 ET (10:37 GMT), the Dow futures contract was down by 60 points, or 0.1%, S&P 500 futures had fallen by 14 points, or 0.2%, and Nasdaq 100 futures had slipped 127 points, or 0.4%.
Here are some of the biggest premarket U.S. stock movers today:
Photronics shares slumped by more than 25% after the photomask maker’s fiscal second-quarter revenue dropped due in part to an ongoing supply crunch in memory chips.
Best Buy shares spiked after the company unveiled a second-quarter sales forecast which topped estimates thanks to steady demand for laptops and computers.
Caesars Entertainment announced that it will be bought by Tilman Fertitta-owned company as part of a $17.6 billion deal, sending shares higher.