Stock futures are mixed this morning, as tech stocks continue to slide amid concerns over AI spending. Futures on the tech-heavy Nasdaq-100 Index (NDX) are down 384 points, while S&P 500 Index (SPX) futures are modestly lower. Futures on the Dow Jones Industrial Average (DJI), however, are up 220 points.
September's producer price index (PPI) rose 1.3% month over month, above estimates of 0.6%. The annual inflation rate jumped to 6.3%, its highest level since 2022 and well above expectations of 5.5%. Core PPI, which excludes volatile food and energy prices, rose 0.7% for the month, more than double the anticipated 0.3% increase.
Continue reading for more on today's market, including:
- Photonics stock flashing a historically bullish signal.
- Lithium stock upgraded on energy storage demand.
- Plus, two tech stocks roped into today's tech rout; and RKLB's delayed launch.
5 Things You Need to Know Today
- The Cboe Option Exchange saw roughly 2.9 million call contracts and 1.8 million put contracts traded on Wednesday. The single-session equity put/call ratio rose to 0.61, while the 21-day moving average remained at 0.59.
- CoreWeave (NASDAQ:CRWV) stock is down 5% premarket, sliding alongside the broader tech sector as they borrow a large amount for artificial intelligence (AI) build-outs. Should these losses hold, CRWV could log a second-straight loss.
- Shares of RocketLab (NASDAQ:RKLB) are down 10% before the open after delaying the launch of its Neutron rocket to 2027. Shares are down just 15.2% year to date heading into today but should these declines hold, RKLB could be eyeing its seventh-straight loss.
- SK Hynix (NASDAQ:SKHY) stock is off 7% in electronic trading on AI concerns. The stock has been spiraling recently and could log a ninth-session loss. Since the start of 2026, SKHY has shed just 15.6%.
- Plus, more economic data on deck this week.
European Bourses Power on Economic Data
Asian markets sold off, with Korea’s Kospi once more bearing the brunt of the damage, falling 7.6%. SK Hynix and Samsung Electronics both shed double digits. Japan’s Nikkei gave back 5%, while China’s Shanghai Composite and Hong Kong’s Hang Seng lost 1.6% and 1% apiece.
Over in Europe, bourses are trying to push higher. London’s FTSE 100 is up 0.8%, after the U.K. economy grew by 0.1% in August, topping the 0.1% drop estimated by Reuters. Meanwhile, euro zone industrial production dropped 1.1% year over year in August, a steeper decline than the 0.1% dip economists had anticipated. The French CAC 40 is up 0.3% at last look, while the German DAX sports a 0.4% loss.