US Pre-Market 10 July 2026: Nasdaq Futures Slip as Memory Chips Reverse, Meta Extends AI Rally
Sentiment: mixed S&P 500 futures: -0.02% Nasdaq 100 futures: -0.29% Dow futures: +0.17%
Nasdaq 100 futures traded 0.29% lower at 29,849.50 by 8:42am ET on 10 July 2026, as the memory chip names behind Thursday's 3.06% gain in the PHLX Semiconductor Index sold off ahead of SK Hynix's Nasdaq debut, with SNDK.US down 2.55% and MU.US down 1.81%. WDFC.US topped the pre-market board at plus 16.70% after WD-40 reported quarterly earnings of $2.24 a share on sales up 24% to $195.1 million. Dow futures held plus 0.17% and the US 10-year yield sat at 4.54%, splitting the open between semiconductors and the rest of the market.
Overnight drivers
- SNDK.US -2.55% pre-market after a 7.59% Thursday close, with MU.US -1.81% (from plus 4.52%), WDC.US -1.62% (from plus 5.04%) and LRCX.US -1.55% (from plus 6.01%). TER.US, AMAT.US and KLAC.US each shed close to 2%. SMH.US trades 0.99% lower. Nasdaq futures trail S&P futures on this group alone.
- META.US +3.67% to $654.66, extending a 4.70% Thursday close after the 9 July launch of its Muse Spark 1.1 AI model, built for agentic and coding workloads. Meta carries a top-five Nasdaq weight and is the only one of them up more than 1% this morning.
- SKHY.US lists on Nasdaq today, the largest ADR offering on record and larger than Alibaba's 2014 debut, raising more than US$26 billion with institutional orders above seven times the shares on offer. South Korea's KOSPI closed plus 2.52% and Taiwan's TAIEX fell 0.83%.
- Bitcoin +2.86% to US$64,340 lifted the listed crypto proxies: MSTR.US plus 5.34%, COIN.US plus 5.24% and HOOD.US plus 3.50%. Ether gained 3.15% to US$1,795.
Overnight Asia and Europe
Japan's Nikkei 225 closed at 68,557.73 on 10 July 2026, up 1.20%. South Korea's KOSPI added 2.52% to 7,475.94 into the SK Hynix listing, and Hong Kong's Hang Seng gained 0.60% to 24,175.12. China's CSI 300 fell 1.96% to 4,780.79. Taiwan's TAIEX lost 0.83% to 45,354.61, and those two markets carry the heaviest semiconductor weight into this morning's US selling.
STOXX 600 trades 0.20% higher at 642.14 at 8:42am ET, with the DAX up 0.06% at 25,133.27, the CAC 40 up 0.08% at 8,333.10 and the FTSE 100 up 0.21% at 10,494.39. VOD.LSE leads Europe at plus 13.19% to 110.65p after Xavier Niel's Vega agreed to buy e&'s entire 16.2% stake for about £4.4 billion, taking the largest holding in Vodafone with no stated intention of a full takeover.
Pre-market movers
| Ticker | Pre-market | Catalyst |
|---|---|---|
| WDFC.US | +16.70% | Quarterly earnings $2.24 a share, sales up 24% to $195.1 million |
| VOD.US | +12.31% | Niel's Vega buys e&'s 16.2% stake for about £4.4 billion |
| CCC.US | +11.34% | Morgan Stanley hired to advise on a sale process |
| MSTR.US | +5.34% | Bitcoin up 2.86% to US$64,340 |
| COIN.US | +5.24% | Ether up 3.15% to US$1,795 |
| META.US | +3.67% | Muse Spark 1.1 launch on 9 July |
| INTC.US | -2.59% | Unannounced, likely flow driven |
| SNDK.US | -2.55% | Gives back a 7.59% Thursday close |
| NOK.US | -2.32% | Sellers return after a 7.95% Thursday close |
| MU.US | -1.81% | Lower into the SK Hynix listing |
| DAL.US | -1.08% | Revenue $17.67 billion, record quarterly fuel cost |
DAL.US opened second-quarter reporting with adjusted earnings of $1.56 a share on revenue of $17.67 billion, up 14% year on year, and reinstated full-year adjusted earnings guidance of $6.50 to $7.50 a share. The stock trades 1.08% lower pre-market after the airline absorbed the highest quarterly fuel expense in its history.
US economic calendar today (ET)
- 12:00pm July WASDE crop report
- 1:00pm Baker Hughes rig count
No 8:30am ET release lands today. June CPI arrives on Tuesday 14 July at 8:30am ET, and the largest US banks open their reporting season the same week.
What to watch
- SKHY.US begins trading on Nasdaq today. SNDK.US, MU.US, WDC.US and LRCX.US sit 1.55% to 2.55% lower pre-market ahead of that print.
- SMH.US at minus 0.99% against Thursday's plus 3.06% close in the PHLX Semiconductor Index measures how much of that advance survives the cash open.
- VIX at 15.81 and the US 10-year at 4.54% sit near unchanged. The divergence is inside equities.
- Gold at US$4,114 an ounce is 0.65% lower and the dollar index at 100.86 is 0.05% lower.
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