Dow, S&P 500, Nasdaq Futures Rise After Chip Stock Selloff: Why CBRS, PLTR, BLZE, MU, FDX Are Trending
U.S. stock futures rose late Tuesday after a chip stock selloff, with Nasdaq 100 futures up 0.7% and S&P 500 futures up 0.2%. Semiconductor ETFs fell 7-8%, and individual chip stocks like Micron and Qualcomm dropped significantly. Oil prices remained subdued due to easing U.S.-Iran tensions. Specific companies mentioned include CBRS, PLTR, BLZE, MU, and FDX, with varying overnight price changes.
How this was made
The 30-second read
Why it matters
The article combines fresh earnings data (FedEx, Cerebras) with sector‑wide chip weakness, offering multiple trading angles.
Market read
Mixed signals: sector weakness in semiconductors versus company‑specific earnings beats and contract wins create divergent short‑term trading opportunities.
What to watch
Potential upside from the CoreWeave storage deal and continued AI demand may offset short‑term weakness.
Background
Futures rose modestly after a sell‑off in chip stocks; market sentiment mixed across major ETFs.
Ticker impact
Cerebras stock fell 11% after its first post‑IPO earnings showed strong revenue but a wider loss and weaker Q2 margin outlook.
Potential further downside in intraday trading.
Losses exceed expectations and margin guidance was weak.
Palantir hit a 52‑week low despite announcing a partnership with Zeta Global for AI‑driven marketing infrastructure.
Likely continued pressure unless additional catalysts emerge.
Price fell despite partnership, indicating market skepticism.
Backblaze rose 5% after securing a $335 million, five‑year storage agreement with CoreWeave.
Support for further upside in the short term.
Contract size is material for a mid‑cap and improves growth prospects.
Micron advanced 5% ahead of its earnings report, with investors eyeing AI‑driven memory demand.
Potential volatility around the earnings release.
Market is positioning ahead of the report; outcome could swing price.
FedEx fell 6% after beating quarterly estimates but issuing a weaker‑than‑expected earnings outlook following its Freight spin‑off.
Further downside likely until guidance improves.
Guidance miss is a key driver of the price decline.
Market effects
Broad semiconductor weakness may pressure related AI and memory stocks.
Asian market declines spill into U.S. futures, affecting tech‑heavy indices.
Oil price stability from eased Middle‑East tensions supports energy sector sentiment.
Counterpoint
Despite earnings beats, the weaker outlooks suggest a short‑term pullback could be an entry point for value investors.
Key entities
- companyCerebras Systems
AI chipmaker reporting first post‑IPO earnings.
- companyPalantir Technologies
AI data platform announcing partnership with Zeta Global.
- companyBackblaze
Cloud storage provider securing large contract with CoreWeave.
- companyMicron Technology
Memory chip maker awaiting earnings.
- companyFedEx
Logistics firm beating estimates but cutting outlook.
