US equity futures declined early Tuesday after technology stocks suffered notable losses the previous day. The retreat comes as investors monitor the impact of memory chip sector weakness and anticipate upcoming earnings from major companies.
At 4:15 p.m. (Bangkok Time), futures linked to the Dow Jones Industrial Average were down 0.04%. Contracts tied to the S&P 500 dropped 0.21%, while Nasdaq 100 futures declined 0.35%, following Monday’s broad decline in technology shares. The S&P 500 and Nasdaq Composite both recorded losses for a second consecutive session, slipping 0.07% and 0.51%, respectively. By contrast, the Dow Jones Industrial Average advanced 0.32%, gaining nearly 160 points.
Weakness among memory chipmakers weighed on sentiment. Shares of Seagate Technology fell sharply after CEO Dave Mosley stated at a JPMorgan conference that expanding manufacturing capacity in response to artificial intelligence demand would be a lengthy process. Seagate shares dropped almost 7%, while Micron Technology declined close to 6%. Other companies connected to artificial intelligence trends also finished lower.
The release of quarterly results from Nvidia remains a key event for the week. The company, seen as a benchmark for the artificial intelligence segment, is expected to provide insight into the sector’s influence on equity markets, particularly as investors navigate inflationary pressures and geopolitical tensions.
Uncertainty persists regarding conflict between the US and Iran. On Monday, President Trump indicated that substantive talks were ongoing and military operations had been paused at the request of Gulf partners.
Investors are also awaiting results from Home Depot, Eagle Materials, and Amer Sports before the market opens on Tuesday, as well as the April data on pending home sales.
