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U.S. stock futures mixed after Thursday tech sell-off
CNBC reported U.S. equity futures mixed early Friday after the Nasdaq fell 2.6% Thursday on AI-spending worries, with Nvidia down 4.4% and AMD down 8.1%.
- New headline Was: “Stock futures are little changed after tech sector sell-off: Live updates”
- Our desk filed its story
U.S. equity futures were mixed in early Friday trading after a Thursday sell-off in technology stocks, CNBC reported in its live market updates1.
CNBC said futures tied to the S&P 500 were flat, Dow Jones Industrial Average futures were down 120 points, or 0.23%, and Nasdaq-100 futures were up 0.25%1. In Thursday regular trading, the S&P 500 fell 1.2% and the Nasdaq Composite fell 2.6%, which CNBC described as the Nasdaq's worst day since June, while the Dow closed marginally higher1.
The live blog said worries about artificial intelligence spending pulled the U.S. tech sector down about 3% Thursday, with Nvidia down 4.4%, Alphabet down 3.2% and Advanced Micro Devices down 8.1%1. Nvidia chief executive Jensen Huang told CNBC that capital for the AI buildout was scarce relative to demand1. Ed Yardeni of Yardeni Research, speaking to CNBC, called the AI trade a bubble but said taking some air out of it would not necessarily harm the economy1.
CNBC said the 10-year Treasury yield fell 18.5 basis points to 4.961% Thursday as traders bought safer assets, and that Brent crude rose 4% to $113.17 after a report that the United States and Israel were drawing up plans for renewed attacks on Iran1. European stocks opened lower Friday, with the Stoxx 600 down 0.19%, according to the same blog1.
Asia-Pacific markets closed mixed Friday, CNBC said, with South Korea's Kospi up 0.3% and Japan's Nikkei 225 down 0.34%1. On the week, CNBC said the S&P 500 was heading for a slim gain of less than 0.1%, the Nasdaq was down 0.5% and the Dow was tracking a 1.7% advance1. Traders were watching the final University of Michigan consumer sentiment reading, the blog said1. Figures and commentary in this account come only from CNBC's live page and were not independently confirmed.
