Dow futures rise 0.3% as investors await major earnings
US stock futures were little changed on Friday, with investors looking past concerns over AI trade financing to focus on upcoming corporate earnings. Futures for the Dow Jones Industrial Average gained 0.3%, while contracts for the S&P 500 rose 0.2%. The Nasdaq 100 edged slightly lower, following a session in which all three major averages closed in the green on Thursday.
US stock futures were little changed on Friday, with investors looking past concerns over AI trade financing to focus on upcoming corporate earnings. Futures for the Dow Jones Industrial Average gained 0.3%, while contracts for the S&P 500 rose 0.2%. The Nasdaq 100 edged slightly lower, following a session in which all three major averages closed in the green on Thursday.
The S&P 500 and Nasdaq are on track for weekly losses after a sell-off in chip stocks earlier in the week. The Dow is pacing to finish the week up roughly 1%. Semiconductor stocks, a key driver of this year's AI trade, edged lower following a volatile week for the sector.
CoreWeave shares struggled amid worries about its debt-heavy balance sheet. Nvidia CEO Jensen Huang later expressed optimism about the neocloud provider, helping the stock rebound on Thursday. Investors have been rotating out of the Tech sector and into defensive areas such as Health Care, which climbed to record highs. Bonds also attracted buying interest, with the 10-year Treasury yield hovering near 5.09%.
Earnings season continues next week with reports expected from streaming giant Netflix, social media giant Meta, and EV maker Tesla.