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LIVE MARKETS-Nasdaq eminis down; Qualcomm, chips fall

By Reuters News

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

NASDAQ, S&P 500 EMINIS DOWN EARLY; QUALCOMM, CHIPS FALL

Nasdaq and S&P 500 eminis are both lower early on Thursday with shares of Qualcomm QCOM.O down before the bell after the company reported disappointing sales.

Qualcomm shares are down sharply and weighing on the chip sector .SOX, while data center operator shares are extending losses from Wednesday.

The broader market rallied on Wednesday after Democrats' victory in Tuesday's US midterm elections in which they gained control of Congress, but the news sparked worries about increased AI regulation.

Earnings for tech and AI-related companies has been mixed this reporting period, with reports from a handful of top names reviving worries about AI spending and the sustainability of the AI trade.

Data early Thursday showed US worker productivity grew faster than expected in the third quarter, but the key report this week will be Friday's monthly US jobs data.

Here is the early market snapshot:

(Caroline Valetkevitch)

EARLIER ON LIVE MARKETS:

AS BRENT WOBBLES, OIL TRADERS PILE INTO BULLISH BETS CLICK HERE

BIOTECH DEALMAKING KEEPS ADDING UP CLICK HERE

FRENCH BOND ANGST COULD BOOST KNOTT'S ECB CANDIDATURE CLICK HERE

CONSUMER STOCKS PUSH STOXX CLOSE TO AUGUST PEAK CLICK HERE

BEFORE THE BELL: ROTATION OUT OF AI ROLLS ON AHEAD OF BOE CLICK HERE

GOLDILOCKS OR GRIDLOCK? CLICK HERE


Early snapshot https://fingfx.thomsonreuters.com/gfx/mkt/znpngrgzevl/Pasted%20image%201793887938525.png

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