Tech Rebound Hopes Lift U.S. Futures After Nasdaq Drop
U.S. stock futures pointed to a higher open Friday as technology shares tried to recover from the prior session's pullback. The Nasdaq had fallen more than 1% on Thursday and stood about 2% below its recent record, pressured by weakness in AI and semiconductor names after a report on OpenAI's revenue run rate. Asian indexes were mixed, while European benchmarks moved higher.
Futures for the Dow, S&P 500 and Nasdaq all signaled gains, with the Nasdaq contract up 0.69%. The prior session was mixed: the S&P 500 and Nasdaq fell, while the Dow and Russell 2000 advanced. The Nasdaq's 1.25% drop left it roughly 2% below Tuesday's record.
Overseas, Asia was mixed as Japan's Nikkei slipped, Shanghai edged up and Hong Kong's Hang Seng jumped. Europe's DAX and FTSE 100 rose. Investors awaited University of Michigan sentiment data, with CPI and PPI due next week. Delta missed and cut its outlook; SpaceX's spectrum deal moved telecom and tower shares.
A tech-led rebound could steady retirement and brokerage accounts tied to equities, affecting investors, savers and pension holders. If AI and chip weakness persists, it may weigh on tech hiring, business investment and consumer confidence. Delta's outlook and telecom shifts may also signal changing travel and connectivity demand. These are market signals, not certain outcomes; households and workers could feel them through portfolios, prices and employment over time.