Premarket trading was mixed Thursday, one day after the technology sector took a drubbing on worries over potentially worsening trade tensions with China, the Associated Press reports.
Futures for the Dow Jones Industrial Average ticked down 0.2%, while S&P 500 futures rose 0.2%. The tech-heavy Nasdaq, which had its worst day since 2022, rebounded 0.4%.
Domino’s Pizza fell more than 10% after the company said it was lowering expectations on store openings this year. One of the pizza delivery chain’s biggest franchisees, Domino’s Pizza Enterprises, is facing challenges in store openings and closings.
United Airlines rose 1.5% after the carrier beat second-quarter profit expectations. United also lowered third-quarter guidance; however, it reaffirmed its full-year forecast.
The markets’ spotlight was squarely on chip companies after a report from Bloomberg News said U.S. President Joe Biden is considering the most severe trade restrictions available if companies like the Netherlands’ ASML and Japan’s Tokyo Electron continue to ship advanced semiconductor technology to China.
The U.S. government has blocked Chinese access to advanced chips and the equipment to make them, citing security concerns, and urged its allies to follow suit.
