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Futures Steady as Tech Selloff Eases; Amazon Drops on AI Spending Surge

U.S. stock futures held steady in early premarket trading after a sharp tech-led decline earlier in the week, giving investors a moment to reassess the sector’s rapid pullback. Major index futures hovered near flat, suggesting a more measured tone after days of volatility. While sentiment remains cautious, some traders appear to be stepping back in following the recent selloff in high‑growth names. Amazon shares slipped in premarket action after the company signaled a significant increase in capital expenditures tied to artificial intelligence infrastructure. The planned investment highlights Amazon’s push to expand its AI capabilities, but the scale of spending raised concerns about near‑term pressure on margins. Market attention now turns to upcoming economic data and corporate earnings, which could help determine whether tech stocks regain momentum or continue to face headwinds. For the moment, futures point to a steadier start as investors look for the next catalyst.
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Tech Rally Fatigue: Nvidia’s Impact on US Stocks


The US stock market remained relatively flat today, with the benchmark S&P 500 unchanged and the tech-heavy Nasdaq Composite gaining 0.2%. However, this stability is notable because it follows a recent surge driven by artificial intelligence (AI) stocks, particularly Nvidia (NVDA). Nvidia briefly held the title of the world’s most valuable company this week, but today it faced a decline of over 1%. Other chip stocks, including Broadcom (AVGO), Super Micro Computer (SMCI), and Qualcomm (QCOM), also dipped alongside Nvidia.

Investors are closely monitoring the broader health of the US economy and the path for interest rates. Former St. Louis Fed president James Bullard suggested that last week’s cool Consumer Price Index reading could lead to a rate cut in September. While around two-thirds of traders still expect rate cuts to begin then, uncertainties remain.

In summary, the AI-fueled rally showed signs of fatigue today, and Nvidia’s performance played a significant role in shaping market sentiment.

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