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CNBC TV18

Nasdaq 100 futures rise 1.2% as tech rebounds; Brent and WTI slide after OPEC+ output hike

AI Market Summary
US equity futures rose, led by a tech rebound and renewed confidence in the AI hardware cycle after Foxconn's stronger sales and ahead of Samsung's earnings. In contrast, OPEC+ agreeing to lift August production pushed crude lower, easing energy-driven inflation concerns and supporting risk sentiment. The most direct near-term market effect is pressure on oil benchmarks as supply expectations increase.
Impact level
● Medium
Affected assets
NCCO1OILBRENT2USD/USDT+1.65%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
● Neutral
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OPEC+ said it would raise production from August, sending Brent and WTI down 1.4% and 1.2%, respectively. Foxconn, a major contract manufacturer, reported quarterly sales that beat expectations, reinforcing resilience in demand for AI hardware. Samsung Electronics is set to report earnings the next day, with the market looking for an 18-fold year-on-year jump in operating profit. Nasdaq 100 futures led US index futures higher with a 1.2% gain as technology shares rebounded.
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