Sector Update: Tech Stocks Decline Premarket Friday

MT newswire2026/10/16 13:05

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09:05 AM EDT, 10/16/2026 (MT Newswires) -- Technology stocks were declining premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.3% and the iShares Semiconductor ETF (SOXX) 1.5% lower. CoreWeave (CRWV) co-founders Michael Intrator, Brian Venturo and Brannin McBee have sold $3.3 billion in company shares since its March 2025 initial public offering, including $2.4 billion in 2026, Bloomberg reported. Shares of CoreWeave were down more than 5% pre-bell. Semtech (SMTC) stock was up more than 3% after the company raised its fiscal Q3 adjusted diluted earnings and revenue outlook. Sony Group (SONY) shares were up more than 1% after the company said it is launching new Walkman digital media players featuring premium audio components throughout their design.

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A survey released by the New York Fed on Friday shows that in October, sales prices for service sector firms increased at the fastest pace since 2022, with input costs remaining robust and supply conditions continuing to deteriorate. Businesses’ pessimism about the commercial outlook has significantly intensified, with the overall business activity index falling by 12 points from the previous month to minus 20.7, marking the weakest reading since March.

华尔街见闻•2026/10/16 22:46