5 Things to Know Before the Stock Market Opens on Thursday

• Semiconductor stocks are retreating sharply, with Nvidia and Broadcom down about 2%, Intel falling 3%, and Micron tumbling 5% premarket, continuing a volatile week for AI-related stocks
• TSMC reported 36% year-over-year revenue growth to 1.27 trillion New Taiwan dollars but shares fell as investors may have expected stronger results given recent momentum
• UnitedHealth stock surged after raising full-year adjusted EPS guidance to $19.50-$20 from at least $17.75, with results exceeding analyst expectations

Market Summary: Thursday Pre-Market Overview

Market Futures Mixed Amid Sector Divergence

Stock futures point to a mixed open Thursday following two consecutive days of gains. S&P 500 futures fell 0.2% and Nasdaq futures dropped 0.8%, pressured by declining chip stocks. Dow Jones futures rose 0.2%, boosted by UnitedHealth's strong earnings. Major indexes advanced yesterday on better-than-expected inflation data and corporate earnings. WTI crude held near $80/barrel after surging on U.S.-Iran tensions, while gold remained flat around $4,050/ounce and bitcoin dipped to $64,000.

Semiconductor Sector Under Pressure

Chip stocks extended their volatile week with significant premarket losses. Nvidia and Broadcom each declined 2%, Intel dropped 3%, and Micron tumbled 5%. SK Hynix, the South Korean memory chip maker that recently debuted in U.S. markets, plunged 8% after gaining 27% over two sessions. The iShares Semiconductor ETF fell nearly 4%, while the Roundhill Memory ETF declined 6%, reflecting persistent AI bubble concerns.

TSMC Disappoints Despite Solid Results

Taiwan Semiconductor Manufacturing (TSMC) shares sank despite beating estimates, reporting Q2 earnings of 27.25 New Taiwan dollars per share on revenue of 1.27 trillion New Taiwan dollars, up 36% year-over-year. Investor expectations may have been elevated following several consecutive strong quarters.

UnitedHealth Surges on Raised Guidance

UnitedHealth Group stock jumped after exceeding earnings expectations and significantly raising full-year adjusted EPS guidance to $19.50-$20.00, up from at least $17.75 previously. This marks a strong recovery from a prior disappointing report.

Netflix Earnings Ahead

Netflix reports after market close, with analysts expecting Q2 revenue of $12.57 billion (up 13.5% YoY) and earnings of 79 cents per share.