Tonight's Highlights: US Stock Futures Slip as Nasdaq Futures Drop 1% on Broad Semiconductor Weakness

US equity futures edged lower on Thursday, with Nasdaq 100 futures sliding 1% as a post-earnings decline in TSMC dragged down the broader semiconductor sector. Major European indices all trended downward.

 

Data released pre-market showed US retail sales rose 0.2% month-on-month in June, matching consensus estimates.

 

In pre-market trading, TSMC shares fell over 4%. Despite posting better-than-expected second-quarter results, the impact of its upwardly revised capital expenditure forecast overshadowed the earnings beat.

 

TSMC now expects capital spending for the year to land between $60 billion and $64 billion, up from its prior guidance range of $52 billion to $56 billion.

 

As of writing, Micron Technology was down over 5% pre-market, SanDisk fell nearly 8%, while Intel and AMD both shed over 3%.

 

In Asian markets, South Korea's SK Hynix and Samsung Electronics closed sharply lower, dragging the KOSPI index down more than 6%.

 

European chipmakers were also under pressure, with STMicroelectronics down 3%, and ASML and Infineon Technologies falling over 2%.

 

The semiconductor sector has seen heightened volatility recently as investors pivot their focus to other catalysts—particularly the earnings season and rising geopolitical tensions between the US and Iran.

 

Oil prices, which surged earlier this week, reacted relatively calmly to the latest headlines, including media reports suggesting US President Trump is leaning toward expanding US military operations in Iran.

Corporate News

TSMC Beats Q2 Profit Estimates, Raises Full-Year Growth Forecast and Boosts CapEx

TSMC reported Q2 earnings on July 16 that comfortably beat Wall Street estimates.

 

The chipmaker posted net income of NT$706.6 billion (approximately $22 billion) with a gross margin nearing 68%. Driven by exceptionally robust AI demand, TSMC plans to step up capital spending on capacity expansion, boosting its full-year CapEx guidance by $8 billion to a range of $60 billion to $64 billion.

 

Concurrently, TSMC confirmed it will inject an additional $100 billion into Arizona, deepening its commitment to the US market.

 

TSMC CEO C.C. Wei noted that strong AI demand prompted the company to raise its full-year revenue growth forecast to over 40%.

 

Wei pointed out that outside of AI, smartphone chip sales have softened without facing shortages, and that almost all demand growth is currently driven by AI and the data centers supporting it.

 

He expressed strong optimism, predicting that the next few years will be "very good business" for TSMC.

 

UnitedHealth Group Posts $112B Q2 Revenue, Raises Full-Year Guidance

UnitedHealth Group (UNH) released its Q2 2026 financial results on July 16. The group generated consolidated revenue of $112 billion and operating income of $8 billion, with a net margin of 4.9%. Second-quarter EPS came in at $6.04, while adjusted EPS reached $6.38.

 

On the back of strong year-to-date performance and an improved outlook for the second half, UnitedHealth raised its full-year 2026 guidance. The group now expects full-year EPS to be in the range of $18.45 to $18.95, with adjusted EPS projected between $19.50 and $20.00.

 

Shares of UnitedHealth rose nearly 7% in pre-market trading.

 

Japan to Procure 27,500 Nvidia Rubin Chips for Domestic Robotics AI Foundation Models

 

On July 16, reports emerged that Japan plans to procure 27,500 of Nvidia's next-generation Rubin AI chips to build domestic foundation AI models tailored for robotics.

 

Newly established entity Noetra will oversee the construction of large-scale data centers, aiming to release its first AI model by March 2027, followed by continuous iterations to launch robotics-focused AI models over the coming years.

 

Noetra has secured 387.3 billion yen in Japanese government funding through March 2027. It is operated by a consortium of dozens of companies, including SoftBank, the Toyota-backed Preferred Networks, and NEC.

 

The project aims to reduce dependence on foreign technology and help Japan capture over 30% of the estimated 60-trillion-yen global robotics market by 2040.