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US stock futures held Friday morning, attempting to stabilize after a broad market selloff, as investors prepared for a highly-anticipated inflation update due before the opening bell.
Futures linked to the S&P 500 (ES=F), Nasdaq 100 futures (NQ=F), and contracts tied to the Dow Jones Industrial Average (YM=F) flitted around the baseline.
Thursday’s regular session saw heavy selling pressure across Wall Street, with AI volatility spilling into sectors such as real estate, transportation, and software. The S&P 500 (^GSPC) fell nearly 1.6%, and the Nasdaq Composite (^IXIC) dropped about 2%. The Dow Jones Industrial Average (^DJI) declined nearly 670 points, or 1.3%.
All seven members of the so-called “Magnificent Seven” tech cohort finished in negative territory. Cisco Systems (CSCO) slid 12% after issuing disappointing forward guidance, adding to the broader market’s losses. Apple (AAPL) sank 5%, marking its steepest one-day drop since April 2025.
In extended trading, chip equipment maker Applied Materials (AMAT) surged 11% after delivering better-than-expected quarterly results and issuing an upbeat outlook. Rivian (RIVN) shares leaped 14% after releasing a positively surprising earnings report with revenue of $1.286 billion versus the predicted $1.26 billion.
Investors are looking to the end of the week with corporate and governmental data releases. Focus is pointed toward January’s consumer price index report, a key inflation measure that could shape expectations for an already complicated Federal Reserve policy.
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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