Futures Struggle for Direction as Semiconductor Stocks Retreat

Stocks are a mixed bag ahead of Thursday's open, with the tech sector and semiconductor stocks under pressure after Broadcom's (AVGO) earnings report disappointed investors. Futures on the S&P 500 Index (SPX) are modestly lower but muted, while the Nasdaq-100 Index (NDX) is deeper in the red, last seen down over 300 points. The Dow Jones Industrial Average Index (DJIA) futures, however, are up triple digits ahead of the open. Elsewhere, jobless claims came in at 225,000 last week, their highest level since Feb. 7.  

Continue reading for more on today's market, including:

• Samsara stock pulls back ahead of earnings.
• Don't overlook these outperforming names with short squeeze potential.
• Plus, SMCI joins chip selloff, and two retailers brushing off lackluster reports

5 Things You Need to Know Today

1. The Cboe Options Exchange saw more than 7.5 million call contracts and 6.2 million put contracts traded on Wednesday. The single-session equity put/call ratio rose to 0.83, while the 21-day moving average fell at 0.56. 
2. Following its sector peer Broadcom lower, Super Micro Computer (NASDAQ:SMCI) is 7% premarket, looking to extend its pullback from Tuesday's multi-month high. Year-to-date, the the tech hardware stock holds steady, up 62% before today's open. 
3. Five Below (NYSE:FIVE) stock is brushing off an upbeat outlook and is down nearly 11% before the bell. The discount retailer is could breach $200 for the first time since Feb. 12 if these premarket losses hold.
4. Tommy Hilfiger and Calvin Klein parent PVH Corp (NYSE:PVH) is 22% lower in electronic trading, brushing off an earnings beat after revenue fell in line with estimates. The retailer also reiterated its full-year earnings guidance. The equity carries an 82% year-over-year gain and seven wins out of the last eight sessions. 
5.  Investors will be eyeing key jobs data later this week. 

Nikkei Cools Off From Record High

Asian markets finished firmly lower on Thursday amid renewed U.S.-Iran tensions. Japan’s Nikkei pulled back from a record high with a 1.4% drop, while Hong Kong’s Hang Seng fell 1.5%, China’s Shanghai Composite slipped 0.6%, and the South Korean Kospi shed 1.8%. Notably, three sources said the Bank of Japan (BoJ) is expected to raise interest rates this month.

European markets are mostly higher, appearing to brush off Middle East tensions today. The French CAC 40 was last seen up 1.1%, while the German DAX rises 0.6%. On the other end, London’s FTSE 100 is down 0.3%.