Stock futures flat as investors eye November jobs report; Wage growth, private hiring in focus as job market cools; President Biden says deal avoids 'Christmas catastrophe' rail strike; Tesla unveils all-electric semi, stays mum on price and Marvell slumps on Q3 earnings miss, muted outlook.

The amount of chips used in devices and automobiles will increase exponentially over the next several years.

Stocks finished mixed Tuesday as rate hike and recession worries, as well as a surprise bond market intervention from the Bank of England, continue to clip sentiment.

Stock futures slump as global stocks retreat; Bank of England expands emergency bond buying; Amazon slips lower as two-day 'Prime Event' kicks off; Rail union rejects proposed contract, raising strike action risk and Marvell shares get bump from Wells Fargo upgrade.

The S&P Semiconductors Select Industry Index has fallen 36% year to date.

Stocks suffered their biggest single-day decline in six weeks Friday as investors re-set rate expectations following a hawkish update from Fed Chair Jerome Powell.

"We expect our revenue mix by end market will continue to be influenced more by supply than demand in the near term," said CEO Matt Murphy.

Stock futures slip ahead of key Jackson Hole speech; Fed inflation gauge may give Powell more evidence of peak price pressures; Dell shares tumble after muted PC demand outlook; Gap shares surge after Banana Republic drives solid Q2 sales and Marvell shares move lower on supply chain caution in chip market

Seasonal headwinds shift to tailwinds in the fourth quarter and CHIPS Act legislation could help the industry rebound in 2023.

UPS topped Street forecasts for its fourth quarter earnings, but a slump in international deliveries kept revenue gain in check.

GM blasted Street profit forecasts with adjusted earnings of $2.12 per share on revenues of $43.1 billion.

“While our results clearly benefited from a favorable market, the counter-cyclical investments we made before and during the pandemic provided the energy and products people needed," said CEO Darren Woods.