U.S. stock futures slipped on Thursday, giving back some gains after a chipmaker-fueled rally pushed major indices higher the previous session. The pullback comes as traders weigh the sustainability of the tech-led advance against lingering macroeconomic headwinds.
SoftBank Group soared 11% in Asian trading, leading a broader tech uptick across the region. The surge follows a wave of buying in semiconductor names on Wall Street, where the Philadelphia Semiconductor Index posted its best single-day gain in weeks. Falling oil prices added tailwinds, easing inflation concerns.
Market participants are now watching for signs that the rally can hold. The dip in futures suggests some caution, with investors eyeing upcoming economic data and corporate earnings for confirmation of demand strength in the chip sector.
The broader Asia tech rally lifted other names but the momentum may be fragile. A potential pullback in chip stocks or a reversal in oil could quickly shift sentiment, making the session's direction uncertain.