Nasdaq futures fall after Asia chip stock sell-off; investors await earnings blitz: Live updates
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Traders work on the floor of the American Stock Exchange (AMEX) at the New York Stock Exchange (NYSE) in New York, US, on Thursday, July 16, 2026.
Michael Nagle | Bloomberg | Getty Images
Futures tied to the S&P 500 dropped in early trading on Tuesday, with investors bracing for a big week of mega-cap earnings and a Federal Reserve rate decision.
S&P 500 futures dipped 0.1% and Nasdaq 100 futures fell 0.73%. Dow futures rose by 86 points, or 0.16%.
Wall Street is coming off a choppy trading session. The 30-stock Dow advanced more than 260 points, or roughly 0.5%, and the S&P 500 eked out a slight gain, helped by a pullback in oil prices following a pause in fighting in the Middle East.
The Nasdaq Composite ended the day down 0.2%, as an unwind in semiconductor stocks weighed on the tech-heavy index, which spilled over into Asian markets overnight with South Korea’s Kospi temporarily halted after slumping 10.84%.
The tension in the market reflects uncertainty ahead of a big week for stocks with earnings results from Amazon, Meta Platforms and Microsoft in the calendar. The chip trade hinges on continued spending from the hyperscalers — even as the mega-caps themselves falter. Apple also reports this week.
A Federal Reserve rate decision is due Wednesday. Investors expect that the central bank will remain on hold, but will seek greater clarity on the path forward for monetary policy. Fed funds futures were last pricing in a quarter point hike in September, according to the CME FedWatch Tool.
“Our call is for no change,” Padhraic Garvey,regional head of research for the Americas at ING, said in a Tuesday morning note.“We see inflation expectations tame enough for comfort. Also, the structure of the curve does not shape up for a rate hiking cycle. Specifically, the 5yr is rich to the curve.”
“It’s unusual for the Fed to start a rate hiking cycle with the 5yr rich to the curve. If we’re wrong and the Fed does hike (whether at this meeting or the next), the curve structure suggests that any hikes delivered will be subsequently reversed, and the funds rate ends up lower than it is today within a 12-month window.”
On Tuesday, traders will monitor the release of a consumer confidence report. Quarterly results from Coca-Cola, UPS, Corning and Boeing are due before the bell.
Investors will also continue to watch oil prices and the bond market. International benchmark Brent crude futures were last below $90 a barrel, amid a pause in fighting between the U.S. and Iran. The U.S. 10-year Treasury yield had pulled back to around 4.65%.
Japan’s Nikkei 225 closed 3.95% lower, while South Korea’s Kospi fell 10.84%. Australia’s benchmark S&P/ASX 200 rose 0.60%. Mainland China’s CSI 300 closed 2.83% lower.
European stocks opened in broadly positive territory on Tuesday, bucking the negative trend set by Asian indices.
Shortly after the opening bell, the pan-European Stoxx 600 index was seen 0.3% higher, with all regional bourses and most sectors, except for oil and gas stocks, trading in the green.
London’s FTSE 100 opened 0.4% higher, while France’s CAC 40 added 0.4% and Germany’s DAX added 0.5%.
34 Min Ago
Semiconductor sell-off sees Kospi temporarily halted
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VIDEO6:0206:02
Semiconductor sell-off sees Kospi temporarily halted
46 Min Ago
Philips slumps 9% after order intake declines, tariff-boosted earnings
Dutch health tech giant Philips sank 9.6% in early European trading after it reported weaker orders in the second quarter.
Philips said Tuesday that order intakes declined 1% due to the timing of certain large orders, while group sales grew 4.4% to 4.4 billion euros ($5 billion.) It also saw operating income of 609 million euros, which was bolstered by a 186 million euro tariff refund.
Philips’ CEO Roy Jacobs told CNBC’s “Squawk Box Europe” on Tuesday that there was some “lumpiness” and “volatility” in order intakes after six consecutive quarters of very strong order growth.
“If you look underneath that...is that we had some orders slipping in North America, big orders, and falling into Q3,” Jacobs told CNBC’s Steve Sedgewick and Ben Boulos, adding that it expects to see orders pick up in the third-quarter and a second half that is strong on orders.
Adjusted EBITA grew 16.4%, of which 4.2% was from the tariff refund. The company noted that adjusted EBITA actually slightly decreased when excluding the tariff refund, due to cost inflation and higher tariffs.
“We don’t count ourselves rich on tariffs,” Jacobs said, saying it was one of the first companies to apply for a tariff refund. “When they [U.S.] came back with the new tariff round, yes, it’s something that we are against because this hits patient care innovation, and we don’t believe this is very helpful. At the same time, it is a business reality we have to deal with.”
Philips said that its cost-cutting and productivity initiatives drove 132 million euros of savings in the quarter, and it is on track to deliver 1.5 billion in savings in its 2026 to 2028 program.
Meanwhile, the company said free cash flow for the rest of the year is 1.5 to 1.7 billion euros, up from 1.3 to 1.5 billion euros previously due to the tariff refund.
— Sawdah Bhaimiya
55 Min Ago
Barclays shares slide 4.8%
Barclays bank reported second quarter earnings Thursday.
Bloomberg | Bloomberg | Getty Images
Barclays shares were down 4.8% in morning trade after the U.K. bank reported a 16% year-on-year jump in group-wide income to £8.3 billion ($11 billion) in the second quarter.
Pre-tax profits for the three-month period to June 30 came in at £3.25 billion.
Its investment bank business saw income jump 20% to £3.96 billion, beating analyst forecasts of £3.7 billion, driven by global markets and investment banking fees.
—Hugh Leask
2 Hours Ago
LVMH lifts luxury stocks as U.S. demand boosts earnings
Shares of LVMH rose as much as 3% after the luxury conglomerate posted second-quarter sales growth at its all-important fashion and leather division for the first time in two years.
The owner of Louis Vuitton, Moët & Hennessy, Dior and Tiffany reported revenue of 19.5 billion euros ($22.2 billion) and organic sales that increased by 3%, largely in line with FactSet estimates.
Results were driven by its watches and jewelry division, which grew 11% in the quarter ended June, and strong U.S. demand, even as sales were dampened by the conflict in the Middle East, which weighed on sales in the region and tourist flows to Europe.
It comes as luxury is seen as cautiously recovering after years of declining growth following a pandemic boom in demand and prices.
Berstein analyst Luca Solca called it “a very gentle and slight inflection point.”
“This is a first positive in fashion and other goods... in two years,” he told CNBC’s “Europe Early Edition” on Tuesday. “That is very good in its own right. It’s very far from what we have seen fashion and leather goods growing in the past, and so I think we are neither here nor there.”
Shares of rivals Hermes and Kering, which are both set to report earnings later this week, rose about 2% each.
- Elsa Ohlen
2 Hours Ago
Man Group’s shares soar 8% after assets swell to record high
Man Group soared to the top of the Stoxx 600 in early trade, after the global hedge fund and alternative investments giant reported an 11% rise in assets under management to a record $253.6 billion in the first half.
The firm reported investment returns of $19.8 billion in the period, with group-wide net inflows of $7.1 billion, 3.4% ahead of the industry average. Net tangible assets reached $758 million as of June 30, up from $723 million on Dec. 31.
Man Group’s London-listed shares were up 8.5% shortly after 8:15 a.m. in London (3:15 a.m. E.T.).
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Man Group.
—Hugh Leask
2 Hours Ago
Mainland China stocks close lower, Hong Kong shares rise
Hong Kong’s Hang Seng index was up 0.31% in its last hour of trade Tuesday, while mainland China’s CSI 300 closed 2.83% lower at 4,569.52.
The gains in the Hang Seng were led by utilities and consumer non-cyclicals sectors, up 0.58% and 1.95%, respectively.
Mainland China’s CSI 300 was dragged by tech and basic materials sectors, down 6.28% and1.30%, respectively.
— Justina Lee
2 Hours Ago
‘We are living in an energy demand decade,’ says Baker Hughes CEO
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VIDEO0:5700:57
Baker Hughes CEO: “We are living in an energy demand decade”
Baker Hughes CEO Lorenzo Simonelli joined CNBC’s Steve Sedgwick and Ben Boulos on CNBC’s Squawk Box Europe this morning to discuss the firm’s latest quarterly results and the wider energy environment.
— Joseph Wilkins
2 Hours Ago
European stocks edge higher; tech stocks flat after Asia chip selloff
European stocks opened in broadly positive territory on Tuesday amid a slew of earnings updates, as oil prices fell and a tech-led sell-off in Asian trading failed to spread.
Shortly after the opening bell, the pan-European Stoxx 600 index was seen 0.2% higher, with all regional bourses and most sectors, except for oil and gas stocks, trading in the green.
London’s FTSE 100 opened 0.1% higher, while France’s CAC 40 added 0.4% and Germany’s DAX added 0.5%.
Tech stocks opened broadly flat, with the semiconductor sell-off seen in Asia not yet spreading to Europe.
— Joseph Wilkins
2 Hours Ago
South Korea’s Kospi closes 11% lower; Japan’s Nikkei falls 4%
Japan’s Nikkei 225 closed 3.95% lower at 62,364.92, while South Korea’s Kospi fell 10.84% to 6,023.66.
Both indexes were supported by losses in tech stocks. Kospi heavyweights Samsung and SK Hynix dropped 13.4% and over 14.7%, respectively. Over in Japan, SoftBank declined 4.43%, and Advantest fell over 10%.
Australia’s benchmark S&P/ASX 200 rose 0.60% to 8,947.80.
— Justina Lee
3 Hours Ago
Mercedes-Benz cuts guidance, battles ‘subdued’ China market
Mercedes-Benz lowered its full-year guidance on Tuesday, after the German carmaker’s sales were held back by “intense competition and subdued consumer sentiment” in its Chinese market.
Total car sales were down 8% year-on-year, but sales in China were 30% lower than in the second quarter last year, underscoring the current difficulties of Western automakers in Asia.
Chief Executive Ola Källenius said in a statement that in the second half of 2026, the group will focus on releasing more new models and improving its “cost position and productivity”.
— Joseph Wilkins
5 Hours Ago
Treasury yields edge lower as investors await Fed meeting
U.S. Treasury yields were lower in Asia trading on Tuesday as investors await the Federal Reserve meeting.
The 10-year Treasury yield was trading 1 basis point lower at 4.628%, as was the 2-year yield down 1 basis point to 4.306%. The 30-year Treasury yield was flat at 5.121%.
“Treasury futures trading volumes remained below average as investors awaited Wednesday’s Federal Reserve interest rate decision,” UOB said in a note on Tuesday.
— Justina Lee
7 Hours Ago
SK Hynix shares tank 11% in Seoul as Asian chip names track losses in U.S. peers
Semiconductor shares in Asia tumbled Tuesday, extending a rout in chipmakers after another weak session on Wall Street.
SK Hynix plunged more than 11%, while Samsung Electronics fell over 9%. Other AI-linked names also saw heavy selling, with Samsung SDI dropping over 8% and Seoul Semiconductor dropping about 7%.
Japan’s semiconductor sector also traded lower. Tokyo Electron dropped more than 10%, Advantest slid 10.25%, while SoftBank Group, a major AI investment proxy through its stake in Arm, declined 6%. Shares of Japan computer memory manufacturer Kioxia plunged more than 17%. Taiwan’s TSMC was down over 2%.
The sell-off followed another weak session for U.S. semiconductor stocks on Monday. The VanEck Semiconductor ETF (SMH) lost more than 2%, adding to its Friday losses. AMD and Teradyne dropped 5% and 4%, respectively. Micron Technology shed about 2%.
— Lee Ying Shan
7 Hours Ago
Hanwha Ocean shares fall 8% as Nomura flags valuation concerns, cuts price target
Shares of Hanwha Ocean fell over 8%, before the Korean Exchange halted trading on the Kospi index.
While the company’s operating profit in the second quarter beat expectations, its valuation remains a concern, Nomura said in note Monday. The brokerage had forecast shares to drop further despite a more than 40% decline from its Feb. 20 peak, attributing it to weak price forecasts for the second half of fiscal year 2026.
Nomura cuts its target price to 63,000 won from 75,000 won and maintained its “reduce” rating.
Hanwha Ocean posted a record first-half operating profit Monday, above 1 trillion won for the first time, driven by a revenue increase from higher-priced vessels and deliveries of offshore projects.
— Justina Lee
7 Hours Ago
Mainland China stocks fall over 1%, Hong Kong shares rise 0.3%
Mainland China stocks fell 1.7% early Tuesday, tracking broad declines in other Asian markets.
Hong Kong’s Hang Seng index bucked the trend to rise 0.33%, supported by technology and industrial stocks.
— Justina Lee
8 Hours Ago
Korea Exchange activates circuit breaker on Kospi, halting trading as stocks tank
The Korea Exchange has triggered circuit breakers on the Kospi, with trading halted for 20 mins after the index plunged 8%.
That followed the exchange’s sell-side sidecar on the Kospi earlier Tuesday, temporarily halting program trading for 5 minutes.
— Justina Lee
9 Hours Ago
Korea Exchange halts trading briefly as stocks tank
The Korea Exchange activated a sell-side sidecar on the Kospi, temporarily halting program trading, as South Korean stocks plunged.
A sell-side sidecar is triggered when the Kospi 200 futures index falls 5% or more for at least one minute, stopping trading for 5 minutes.
— Justina Lee
9 Hours Ago
South Korea’s Kospi leads losses, down nearly 6%, as Asia markets open lower
Asia-Pacific markets opened lower Tuesday, with South Korea’s Kospi leading losses.
The Kospi dropped 5.93% at open, while the small-cap Kosdaq lost 3.63%. Japan’s Nikkei 225 slipped 0.65% and the Topix declined 0.63%.
Australia’s benchmark S&P/ASX 200 was 0.38% lower.
—Justina Lee
9 Hours Ago
Nikkei 225 futures are lower after index rose in prior session
Japan’s Nikkei 225 was poised to decline, with its Chicago futures at 63,920 and the Osaka contract last trading at 63,910, compared with the index’s previous close of 64,931.19.
Hong Kong Hang Seng index futures were at 25,299, compared with the index’s last close of 25,207.18.
In Australia, S&P/ASX 200 futures last traded at 8,821, while the index closed at 8,894.
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Hostilities between the U.S. and Iran are on hold, as diplomats seek to give peace talks “some space.” Focus will also be on President Donald Trump’s meeting with Israeli Prime Minister Benjamin Netanyahu. The two leaders will mainly discuss about Iran. “Our goal is clear: to safeguard Israel’s security, strengthen its power, and expand the circle of peace around us,” Netanyahu said in an X post Monday morning.
—Justina Lee
9 Hours Ago
Tom Lee says the Fed is more likely to shrink the balance sheet
The Federal Reserve is more likely to use quantitative tightening to combat inflation than implement a rate change, according to Tom Lee.
“I think in some ways they might just shrink the balance sheet instead of doing a policy rate change,” the Fundstrat Global Advisors’ head of research told CNBC’s “Power Lunch” on Monday. “What they might say is like, ‘hey, let’s try to put some pressure on growth, but not to deliberately slow the economy.’”
“The stock market’s going to ultimately see the idea that, ‘hey, the Fed shrinks the balance sheet, and then that means they can cut rates.’ And so, then they’ll see the rate cuts as actually positive,” he added. “So, I think it’s going to pave the way for future rate cuts.”
— Sarah Min
10 Hours Ago
Piper Sandler initiates Williams-Sonoma with an overweight rating
Piper Sandler sees a lot to like in Williams-Sonoma, initiating coverage of the stock with an overweight rating on Monday. Its $253 price target suggests almost 12% upside from Friday’s close.
“The company carries a best-in-class EBIT margin while showing steady outperformance in [a] fairly depressed home furnishing industry backdrop,” analyst Peter Keith said in a note to clients. “Over the next 2-3 years we see an opportunity for sales growth acceleration (to HSD%) which should result in EPS growth acceleration to the mid-teens.”
— Michelle Fox
11 Hours Ago
Stocks making the biggest moves after hours
Check out the companies making headlines after hours.
Cadence Design Systems — Shares of the chip design company popped more than 4% after Cadence Design posted second quarter earnings of $2.11 per share, excluding items, topping the LSEG consensus estimate of $2.05 per share. Revenue of $1.58 billion came in line with expectations.
Rambus — The maker of memory interface chips rose slightly after posting second quarter earnings of 77 cents per share, on an adjusted basis, on revenues of $207 million, exceeding estimates. Analysts surveyed by LSEG had expected earnings of 72 cents per share on revenues of $198 million.
Universal Health Services — The hospital and healthcare services provider dropped more than 4% after it lowered its full-year guidance. The company expects earnings in the range of $22.28 to $23.65 per share, on an adjusted basis, down from prior guidance of $22.64 to $24.52 per share, for the year ending December.
— Sarah Min
11 Hours Ago
Stock futures open little changed
Stock futures opened little changed Monday night.
Dow Jones Industrial Average futures rose by 36 points, or 0.07%. S&P 500 futures and Nasdaq 100 futures climbed 0.07% and 0.08%, respectively.
— Sarah Min
Dow closes more than 250 points higher, aided by cooling oil prices
S&P 500 closes little changed Friday as Iran fears and chip sell-off weigh down market: Live updates
S&P 500 closes little changed as higher oil prices keep stocks under pressure: Live updates
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