US STOCKS-Wall St futures slide as rising oil, yields dampen mood

​US stock index futures fell on Thursday, pressured by inflation concerns as oil jumped nearly 4% and Treasury yields rose, while chipmakers faced renewed scrutiny despite a strong forecast ‌from Samsung.

South Korea's Samsung Electronics forecast a record quarterly profit of $80.2 billion, above analysts' estimates, but its shares closed marginally lower. The results did not rally global chip stocks, however, highlighting doubts about the AI boom. Nvidia dipped 0.6% in premarket trading, Broadcom ‌eased 1.4% and Micron Technology fell 1.2%.

Meanwhile, the Wall Street Journal reported on Wednesday that Broadcom is lining up $50 billion ‌of financing for OpenAI, with Oracle also seeking an unspecified sum, spurring fears that massive debt issuance by technology companies could intensify the competition for capital. A rebound in Treasury yields and oil prices knocked the S&P 500 and Nasdaq from record highs a day earlier, while the Dow snapped a ⁠four-day ​winning streak.

The weak sentiment persisted ⁠on Thursday, with Brent crude jumping over 4% on the back of attacks on shipping in the Gulf and the Strait of Hormuz, while the ⁠US cut output as a hurricane menaced offshore production. Renewed inflation worries pushed Treasury yields higher, with the benchmark 10-year yield climbing to ​5.34%, though it remained below earlier session highs.

At 06:14 a.m. ET, Dow E-minis fell 399 points, or 0.78%, S&P ⁠500 E-minis lost 31.5 points, or 0.4%, and Nasdaq 100 E-minis shed 180.25 points, or 0.57%. US Federal Reserve Governor Christopher Waller hinted at a possible ⁠pause ​at the central bank's upcoming meeting. Additional rate hikes would likely be needed to lower inflation to the Fed's 2% target, but there was "flexibility" about the pace of increases, he said earlier in the day.

Traders widely expect the Fed ⁠to hold rates steady at its October meeting, but a December hike remains on the cards, according to CME FedWatch. Wolfspeed ⁠was an outlier among chipmakers, ⁠soaring 16.6% after it received a $1.5 billion conditional loan commitment from the US Department of Defense to expand the domestic production of silicon carbide materials and power devices.

Applied Digital rose 3.5% after ‌the data center provider's ‌first-quarter revenue more than quadrupled to $341.9 million.