Stock futures pointed to another difficult session for technology shares after a broad sell-off pushed major indexes toward key technical levels. Dell, AMD and CoreWeave extended losses as investors assessed new revenue figures from Anthropic and renewed concerns about AI spending and profitability.
The sequential growth rate was slower than the 143% increase recorded between the first and second quarters, and the latest annualized pace was only modestly above the $65 billion level cited for July.
The update arrived after a bruising session for the broader market.
The semiconductor exchange-traded fund fell 4% for a seventh consecutive decline and moved below its 50-day average, while the equal-weight Nasdaq-100 fund dropped 1. Healthcare stocks were among the exceptions, with Eli Lilly, Humana and Halozyme showing technical buy signals.
Taiwan Semiconductor Manufacturing offered a stronger operating picture even as its shares remained under pressure.
Despite those figures, Taiwan Semiconductor shares fell 2% in premarket trading after dropping 3. 4% the previous day and moving below their 50-day average.
The market’s immediate focus was also on inflation and interest rates. Traders placed the odds of an October 28 Federal Reserve rate increase at roughly one-third, up from 22% a day earlier. Producer-price data and retail-sales figures were due before the opening bell.
The contrasting signals left investors weighing strong demand for advanced chips against slower growth at a major AI model developer and continued pressure on companies tied to AI infrastructure. Overnight futures do not guarantee the direction of the regular session, but the market was positioned for the S&P 500 to test its 50-day average and for the Nasdaq composite to open below that level.