Wall Street followed global markets lower today, the Associated Press reports. Dow Jones Industrial Average futures slipped 0.3% before the opening bell, and S&P 500 futures were down 0.5%.
Broadcom tumbled 7.2% in premarket trading after the chipmaker gave a lukewarm forecast, even though it nudged past third-quarter profit targets on booming revenue related to artificial intelligence. Broadcom, whose shares are still up more than 25% this year, said it expects fourth-quarter sales of $14 billion, which is short of Wall Street expectations.
U.S. Steel jumped 2.6% in premarket after the CEO of rival Cleveland Cliffs told MSNBC that his company would still be interested in acquiring U.S. Steel if the Biden administration were to block its proposed sale to Japan’s Nippon Steel. Lourenco Goncalves also accused Nippon of frequent breaches of trade policies and cited national security issues if the proposed $14 billion Nippon-U.S. Steel sale were to go through.
In energy trading, benchmark U.S. crude gained 39 cents to $69.54 per barrel. Brent crude, the international standard, added 36 cents to $73.05 per barrel.
In currency trading, the U.S. dollar edged down to 143.13 Japanese yen from 143.40 yen.
