Updated 1 min read
US stock futures slipped on Friday, looking for a footing after a broad market sell-off as Wall Street waited for the latest reading on consumer inflation for a steer on the path of interest rates.
Contracts on the S&P 500 (ES=F), the tech-heavy Nasdaq 100 (NQ=F), and the Dow Jones Industrial Average (YM=F) all edged down about 0.2%.
Some caution remains after a day of heavy selling for stocks, which retreated sharply with the broader market as fears about AI disruption spilled into sectors such as real estate, transportation, and software. Techs got pummeled as with all seven of the “Magnificent Seven” megacaps finishing lower. Apple (AAPL) sank 5% for its steepest one-day drop since April 2025.
The wait is now on for the January update to the consumer price index. The crucial consumer inflation reading is likely to shape expectations for an already complicated Federal Reserve policy.
In premarket trading, Applied Materials (AMAT) stock surged over 10% after the chip equipment maker delivered better-than-expected quarterly results and issuing an upbeat outlook. Rivian (RIVN) shares leapt 13% after releasing a positively surprising earnings report with revenue of $1.286 billion versus the predicted $1.26 billion.
Earnings season continues with eyes on Moderna (MRNA) reporting Friday after a 10% drop in share value this week after the FDA rejected an investigational flu vaccine.
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