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20.10.26 - 15:03
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Futures Slip As Korean Data Center IPO Faceplant Revives Tech Rout, French Spread Blows Out (ZeroHedge)
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Futures Slip As Korean Data Center IPO Faceplant Revives Tech Rout, French Spread Blows Out
US futures are lower, led by the Nasdaq, as Monday's AI relief bounce fizzled overnight after South Korean data-center firm Elice cratered more than 30% in its trading debut, reviving doubts about who exactly will earn a return on the AI capex binge, while OpenAI is reportedly rushing to raise about $30 billion ahead of Anthropic's IPO and French stress returned with a vengeance; as a result the OAT-Bund spread widened to a 151bps peak, swiftly approaching the 152bps high from just after the draft budget was presented. As of 8:00am ET, S&P futures are 0.2% lower while Nasdaq futures are down 0.7%; Dow futures are flat, in a repeat of yesterday's divergence when the S&P rose 0.41% and the Nasdaq jumped 1.11% while the Dow slipped 0.07% and almost two-thirds of S&P components fell (see our wrap of Monday's session). In premarket trading, Mag 7 names are mostly lower (AAPL -0.9%, META -0.4%, NVDA -0.4%...
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