Stock Market Update

The S&P 500 futures currently trade 53 points below fair value.

NVIDIA (NVDA 209.78, -6.83, -3.2%) and other prominent AI names are moving lower in the premarket after The Wall Street Journal reported that OpenAI missed its own revenue and user targets, prompting concerns that the company may not be able to pay for future computing demands.

Semiconductor stocks as a group were notably weaker yesterday, but NVIDIA managed to trade higher as the "magnificent seven" outperformed.