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Oleksandr Pylypenko

S&P Futures Tick Lower Ahead of Powell Speech, Chip War Heats Up

Jerome Powell United States China Artificial Intelligence Christine Lagarde Kazuo Ueda Monetary Policy Bank of Japan European Central Bank the Wall Street Journal

September S&P 500 futures (ESU23) are trending down -0.15% this morning as a report on potential new restrictions on the export of artificial intelligence chips to China weighed on sentiment, while investors awaited a speech from Fed Chair Jerome Powell for fresh clues on the future direction of U.S. monetary policy.

NVIDIA Corporation (NVDA) slid over -4% in pre-market trading after the Wall Street Journal reported that Washington is considering new restrictions on exports of artificial intelligence chips to China. Advanced Micro Devices Inc (AMD) fell more than -3% in pre-market trading.

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