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LivestreamMenuTraders work on the floor of the New York Stock Exchange (NYSE) on July 09, 2026, in New York City. Spencer Platt | Getty Images
Stock futures were little changed on Thursday after a tough session on Wall Street in which semiconductors struggled, while traders weighed the latest quarterly earnings reports.
Dow Jones Industrial Average futures slipped 33 points, or 0.1%. S&P 500 futures lost 0.1% as well, along with Nasdaq-100 futures.
Netflix shares dropped more than 8% after its second-quarter results came in line with analyst expectations.
Thursday’s moves come after a decline in chipmakers dragged the broader market lower. The S&P 500 shed 0.5% on the day, while the Nasdaq Composite dropped 1.5%. The Dow closed 105.67 points lower, or 0.2%.
The VanEck Semiconductor ETF (SMH) slid nearly 4% as Taiwan Semiconductor lost more than 2% following a mixed second-quarter report. While the company’s bottom line surged from the year-earlier period, Taiwan Semi also hiked its full-year spending outlook. Marvell Technology, STMicroelectronics and Micron followed Taiwan Semiconductor lower.
Thursday’s decline put SMH down 6.9% for the week, on pace for its third weekly decline in four weeks. The major stock benchmarks are also down week to date, with the S&P 500 off by 0.6%, while the Dow and Nasdaq have slipped 0.2% and 1.5%, respectively.
Despite the recent turbulence in the artificial intelligence trade — chips in particular — the S&P 500 remains about 1% below its all-time high set in early June.
“The fact that the market hasn’t fallen apart tells me that this likely not a major bull peak,” Ed Clissold, chief U.S. strategist at Ned Davis Research, told CNBC’s “Closing Bell.” “I’d be more concerned if the Russell 2000 had severely underperformed over the past few weeks.”
He added that, while the economy may “slow down a little bit” near term, a recession is unlikely. Clissold also said consolidation periods in the market may help the market take some froth out of certain sectors.
41 Min Ago
Astera Labs, Marvell leading chip sell-off this week
The VanEck Semiconductor ETF (SMH) has fallen more 6% this week. Here are the stocks leading the way lower for the chipmaker fund:
- Astera Labs: down 23%
- Marvell Technology: down 20%
- Arm Holding: down 19%
- Micron Technology: down 13%
- STMicroelectronics: down 12%
— Fred Imbert
48 Min Ago
Netflix, Alcoa are making moves after hours
Here are the stocks making big moves after the bell:
Netflix — The streaming giant dropped more than 8% after its in-line results for the second quarter failed to impress investors. Netflix earned 80 cents per share on revenue of $12.56 billion. Analysts polled by LSEG expected a profit of 79 cents per share on revenue of $12.59 billion. The company, however, also said it would cut back how often it releases its “What We Watched” reports — which give investors a look at engagement on the platform.
Alcoa — The aluminum producer dipped 2% even after reporting second-quarter results that beat analyst expectations. Alcoa earned $2.12 per share, excluding certain items, on revenue of $3.97 billion. Analysts had forecast a profit of $2.06 per share on revenue of $3.94 billion, per LSEG. The company also lowered its 2026 production outlook for alumina, which is used in aluminum smelting.
Intuitive Surgical — Shares fell 10% after the maker of surgical robotic tools posted results of the second quarter. The company earned an adjusted $2.80 per share on revenue of $2.89 billion. Analysts polled by LSEG expected a profit of $2.50 per share on revenue of $2.82 billion. Intuitive Surgical also maintained its full-year outlook for procedures using its da Vinci robotic system. It expects growth around 14%.
— Fred Imbert
52 Min Ago
Stock futures fall marginally at the open
Dow Jones Industrial Average futures slipped 13 points. S&P 500 futures lost 0.1% along with Nasdaq-100 futures.
— Fred Imbert
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