Sentiment continues to be jittery, with the major index futures priming for a lower opening on Thursday as traders look ahead to the first read of second-quarter GDP data and more earnings. The tech space could once again drag the broader market after a few disappointing earnings reports from the likes of Franco-Italian chipmaker STMicroelectronics N.V. (NYSE:STM), which predominantly supplies to the automotive end market, and semiconductor test-equipment company Teradyne, Inc. (NASDAQ:TER). Traders may also stay glued to second-quarter GDP data to confirm the slowdown suggested by some recent data does not point to a hard landing. That said, bond yields are dipping as the market, factoring in not-so-positive economic data, and commodities are moving to the downside. Futures Performance (+/-) Nasdaq 100 -0.50% S&P 500 -0.29% Dow -0.10% R2K +0.07% In premarket trading on Thursday, the SPDR S&P 500 ETF Trust (NYSE:SPY) moved down 0.24% to $539.94, while the Invesco QQQ ETF (NASDAQ:QQQ) fell 0.43% to $461.40, according to Benzinga Pro data.Cues From Last Session: Mega-cap earnings proved to be the undoing of the market on Wednesday, triggering an across-the-board sell-off. The major indices opened lower, with the sell-off intensifying in early trading after S&P Global’s manufacturing purchasing managers’ index unexpectedly fell into contraction territory and new home sales for June unexpectedly declined. The key averages declined steadily through the session before closing the day notably lower. The S&P 500 Index and the Nasdaq pulled back to their lowest closes since June 12 and June 11, respectively, while the 30-stock Dow Jones Industrial Average fell to a nearly two-week low. On a percentage basis, the S&P 500 and the Nasdaq Composite indices posted their worst performances since Dec. 15, 2022 and Oct. 7, 2000, respectively, according to MarketWatch. Defensive utility, healthcare and consumer staple stocks escaped the brunt of the selling pressure, which was manifested more acutely in IT, communication services and consumer discretionary stocks. Energy stocks also posted modest gains. Small-caps also joined their large-cap counterparts in the sell-off, with the Russell 2,000 slipping over 2%. Index Performance (+/-) Value Nasdaq Composite -3.64% 17,342.41 S&P 500 Index -2.31% 5,427.13 Dow Industrials -1.25% 39,853.87 Russell 2000 -2.14% 2,195.37 Insights From Analysts: Morgan Stanley Chief U.S. Equity Strategist Mike Wilson in a podcast on Monday said the perceived underperformers under a Donald Trump presidency ...