Nasdaq 100 Futures Slip 0.3% as Apple, Microsoft Price Hikes Weigh on Tech
Updated
Updated · CNBC · Jun 25
Nasdaq 100 Futures Slip 0.3% as Apple, Microsoft Price Hikes Weigh on Tech
3 articles · Updated · CNBC · Jun 25
Summary
Nasdaq 100 futures fell 0.3% late Thursday, while S&P 500 futures were flat and Dow futures added 91 points after another tech-led selloff.
Apple dropped 6% and Microsoft more than 3% after raising prices on products from iPads and MacBooks to Xbox systems, citing stronger memory demand and higher component costs.
That pressure pulled the Nasdaq Composite down 0.46% for a fourth straight loss—its first such streak since February—while the S&P 500 slipped 0.01% and the Dow rose 0.14% on gains in healthcare, financials and industrials.
For the week, the Nasdaq is on pace to lose 4.4%, versus a 1.9% drop for the S&P 500, as investors also reassess Fed-rate expectations and brace for Friday's wholesale inventories and Michigan sentiment data.