AMD

U.S. equities turned lower as a jump in crude oil and escalating Iran tensions undermined the rotation that had supported the Dow. Semiconductor weakness deepened, leaving investors focused on the FOMC press conference and major technology earnings after the close.

Nasdaq-100 futures fell as a semiconductor selloff that began on Wall Street moved through Asia and hit U.S. chip shares before the open. Investors are turning to upcoming earnings from Amazon, Meta, Microsoft and Apple for evidence that AI spending can support elevated valuations.

Core Scientific has signed a long-term AI infrastructure partnership with AMD that could reshape its revenue base as bitcoin mining becomes a smaller part of the business. The agreement follows the end of a Block mining-chip purchase deal and comes as Core Scientific expands contracted colocation capacity.

U.S. equity futures are easing as semiconductor stocks give back part of Thursday’s rally and traders reassess risk into the end of the week. September E-mini S&P 500 futures remain above key support, but compression on the chart and elevated protection demand point to a potentially faster move ahead.