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U.S. stock futures are little changed after the tech sector saw its biggest decline in more than four years; Nvidia (NVDA), Broadcom (AVGO), and other chipmaker stocks are moving higher in premarket trading after plunging yesterday on investor worries over China’s DeepSeek artificial intelligence model; General Motors (GM) posts better-than-expected revenue and adjusted profit; Boeing (BA) concludes a difficult year by reporting fourth-quarter results in line with its recently released preliminary figures; and Smithfield Foods is expected to begin trading on the Nasdaq today after pricing its initial public offering (IPO) below the previous range. Here's what investors need to know today.
1. US Stock Futures Little Changed After Tech Selloff
U.S. stock futures are little changed after Monday's selloff, which saw the steepest drop in tech stocks since 2020. Nasdaq futures are 0.2% higher following a 3.1% decline yesterday, while S&P 500 futures are up by a similar percentage after falling 1.5%. Dow Jones Industrial Average futures are near flat after the index posted a 0.7% gain amid the selloff. Bitcoin (BTCUSD) is 0.4% higher to trade at over $102,000. Gold and oil futures are higher, which yields on the 10-year Treasury note are ticking up.
2. Nvidia, Chipmaker Stocks Rebound Modestly After Plunging Monday
Nvidia (NVDA) shares are moving 2% higher in premarket trading following Monday's 17% decline that stemmed from investor worries over the capabilities of China's DeepSeek artificial intelligence (AI) model. Other chipmakers also are rebounding modestly in early trading, including gains of more than 3% by Broadcom (AVGO), 1.5% by Taiwan Semiconductor Manufacturing Co. (TSM), and 1% by Micron Technology (MU). ASML Holding (ASML) shares are down more than 1% ahead of the Dutch chipmaker's scheduled earnings release on Wednesday.
3. General Motors Posts Better-Than-Expected Revenue, Adjusted Profit
General Motors (GM) reported fourth-quarter results mostly above expectation, including revenue of $47.7 billion and adjusted earnings per share (EPS) of $1.92 billion. However, the U.S. automaker recorded $5 billion in one-time charges related to a Chinese joint venture and its discontinued Cruise robotaxi program that led to a net loss of almost $3 billion. Shares are little changed in premarket trading.
4. Boeing Report in Line With Preliminary Results as Plane Maker Closes Difficult Year
Boeing (BA) stock is edging lower in premarket trading after the aircraft maker reported a fourth-quarter net loss in line with its recently issued preliminary results. The company said it lost $3.86 billion, or $5.46 per share, on revenue that fell 31% year-over-year to $15.24 billion, essentially matching its preliminary results. After the company burned through billions amid safety investigations and a strike this year, CEO Kelly Ortberg said he was "focused on making the fundamental changes needed to fully recover our company's performance and restore trust."