US Stock Futures Slip as Mixed PPI Signals Weigh on Market Sentiment
US stock futures declined across the board on Thursday, September 10. The mixed signals from the August PPI report, which showed a 2.4% year-over-year increase versus an expected 5.3%, weighed on investor sentiment. Core PPI rose 0.2% month-over-month, slightly below expectations of 0.3%. This led to cautious market sentiment ahead of next week's Fed meeting.
The tech sector was particularly affected, with Nvidia (NVDA) down 1% and memory peer Micron (MU) falling nearly 3% due to a broader pullback in semiconductors. Apple (AAPL) edged higher by 0.34%, however, after unveiling its foldable iPhone, priced around $2,000.
Other notable movers included defense-drone specialist AeroVironment (AVAV), which jumped 4.27% on an earnings beat, and Korea's SKHY, which fell more than 4% after profit-taking. Chinese-linked ADRs also came under pressure, with e-commerce heavyweight Alibaba (BABA) falling 1.42%, logistics platform JD slipping 1.04%, and EV maker NIO dipping 2%.