Futures Slip On Tech Retreat

Benzinga

U.S. futures slipped as tech names pulled back, with Broadcom down over 5% on a weak sales outlook, even as global markets pushed toward record highs. Investors are rotating out of mega-cap tech and into broader equities and alternative assets as Fed rate cuts fuel a widening rally.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03U.S. stock futures slipped as technology shares retreated,

00:06even as global markets approached record highs, according to Bloomberg.

00:11NASDAQ 100 futures fell 0.5% after Broadcom slid more than 5% in pre-market trading

00:17on a softer sales outlook, while S&P 500 futures dipped 0.2% after the index closed at a record.

00:25European and Asian equities advanced toward record levels,

00:28reflecting a global rotation away from technology leaders.

00:32U.S. blue-chip and small-cap stock gauges were positioned to continue advancing to new highs.

00:37Diverging U.S. equity performance underscores a broadening rally

00:40as confidence in the Federal Reserve's easing cycle supports expectations for a year-end market advance.

00:46Traders are rotating into alternative assets as Federal Reserve rate cuts encourage diversification

00:51and reduce concentration risk tied to the Magnificent Seven.

00:54The dollar traded near a two-month low, Treasury yields edged higher, and gold extended recent gains.

01:00For all things money, visit Benzinga.com.

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