Dow Futures fell 0.31%, S&P 500 Futures fell 0.41%, Nasdaq Futures fell 0.70%, as sentiment turned defensive on chip weakness and surging crude.
Oracle fell 10.37%. Q4 beats were overshadowed by FY2027 capex near $70 billion and plans to raise about $40 billion via debt and equity, with free cash flow negative.
Direxion Daily Semiconductors Bull 3x Shares (SOXL) slid 4.76%. The leveraged ETF mirrored a deeper chip correction as the group extended losses.
Lumentum declined 2.46%. Concerns that co‑packaged optics volume ramps may slip to 2028–2029 kept pressure on optical names and fueled profit‑taking.
Western Digital slipped 2.39%. The company announced a convertible note exchange tied to its 3.00% 2028 notes, raising dilution concerns.
Chip stocks fell, with Marvell Technology (MRVL) falling 3.17%, Navitas Semiconductor Corp (NVTS) falling 2.88%, ARM Holdings falling 2.48%, Advanced Micro Devices (AMD) falling 2.51%, Intel falling 1.83%, KLA-Tencor falling 1.67%.
Memory chip stocks fell, with SanDisk Corp. falling 2.14%, Micron Technology (MU) falling 2.11%, Roundhill Memory ETF (DRAM) falling 1.9%, Seagate Technology PLC (STX) falling 1.84%.
Optical communication stocks fell, with Applied Optoelectronics (AAOI) falling 3.5%, COHERENT falling 2.75%, Credo Technology Group Holding Ltd (CRDO) falling 2.39%.
Elsewhere, NEBIUS (NBIS) falling 3.42%, CoreWeave, Inc. falling 3.16%, Dell Technologies Inc. (DELL) falling 2.6%, Nokia Oyj falling 2.16%.
Among other individual movers, ProShares Ultra Bloomberg Crude Oil (UCO) rose 2.82%, Sidus Space Inc. (SIDU) climbed 2.79%, United States Oil Fund LP (USO) advanced 2.24%, Exxon Mobil gained 1%, Redwire Corp. fell 2.82%, Fluence Energy, Inc. (FLNC) retreated 2.64%, Rocket Lab USA, Inc. (RKLB) slipped 2.15%, ServiceNow declined 2.13%.
