Wall Street futures mixed as tech wobbles again, Tesla gains
SPY•U.S. stock futures were mixed on Friday as technology shares came under pressure over AI investment concerns; Dow futures rose 0.39%, S&P 500 futures gained 0.16% and Nasdaq 100 futures fell 0.08%. Tesla rose 4.4% after unveiling a redesigned Roadster, while oil prices fell nearly 1%.
1. Futures trade mixed
U.S. stock index futures were mixed on Friday as technology shares came under fresh pressure over concerns that data center operators may not become profitable in time to repay debt. At 6:21 a.m. ET, Dow E-minis were up 0.39%, S&P 500 E-minis were up 0.16% and Nasdaq 100 E-minis were down 0.08%.
2. AI shares under pressure
CoreWeave fell 4.1% in premarket trading, while Nebius Group and Iren each dipped 2%. Micron Technology fell 1.7% and Broadcom slipped 0.4%. The S&P 500 and Nasdaq were on track for weekly losses after an AI-led selloff, mixed big-bank earnings and inflation data weighed on sentiment; the Dow remained on track for a weekly gain.
3. Tesla and oil support
Tesla rose 4.4% after unveiling a redesigned Roadster developed with SpaceX. Oil prices fell nearly 1%, though Brent crude remained above $100 a barrel. Markets increasingly expect the Federal Reserve to leave interest rates unchanged this month.
