Futures Mixed Ahead of CPI as Chip Weakness Persists
U.S. equity futures were mixed before the opening bell, with Nasdaq contracts weaker as technology shares remained under pressure for a third session. Investors were focused on the September CPI release, while oil moved higher after an attack on Saudi Arabia's state oil company headquarters and reports of new Iranian tactics against ships. Overseas markets were mostly lower in Asia but higher in Europe, and ASML's improved guidance helped chip shares stabilize after a recent selloff.
Before the open, Dow and S&P futures pointed modestly higher, while Nasdaq contracts slipped as tech weakness extended to a third session. Investors awaited September CPI figures, with headline monthly and annual readings projected to accelerate and core measures expected to be milder.
Oil gained after an assault on the Saudi state oil firm’s main office and reports of new Iranian ship-targeting tactics. Asian benchmarks mostly fell, while European indexes rose. ASML’s raised guidance helped semiconductor shares steady after South Korea’s recent chip-led slump.
The CPI report may shape expectations for borrowing costs, affecting households with loans and businesses planning investment. Oil’s rise, tied to Middle East tensions, could feed pump prices and transport costs, while chip weakness may influence tech workers and retirement portfolios. Market moves are likely to be felt most by investors and consumers, though the ultimate social effect depends on whether inflation and energy pressures persist.