Stock Market Update
07-Oct-26 08:35 ET
Futures point to lower open as semiconductors retreat
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -35.00. Nasdaq futures vs fair value: -263.00.
Equity futures continue to point to a lower open this morning as Treasury yields rise above Monday's highs. The S&P 500 futures currently trade 35 points below fair value.
Semiconductor stocks are poised for weakness at the open, which will weigh on the major averages. The VanEck Semiconductor ETD is down 2.0% in the premarket as NVIDIA (NVDA 236.78, -2.46, -1.0%) backs off from yesterday's record high, while Marvell (MRVL 281.00, -6.01, -2.1%) also retreats despite being upgraded to Buy from Hold at TD Cowen, with a target price of $350.
