US Futures Fall from Records

US equity futures slid from record highs reached last session as high energy prices and the risk of a hawkish Federal Reserve retook the market's forefront amid a brief pause in the recent AI rally. Contracts for the S&P 500 fell 1% and those for the Nasdaq dropped 1.6%, while those for the Dow fell 0.7%. The pullback was focused on AI hyperscalers and infrastructure companies after a batch of strong earnings and guidances extended the speculative surge in their equity prices. Nvidia, Tesla, Amazon, Oracle, and Alphabet were around 2% lower premarket. Broader sectors were also pressured by concerns of energy-driven inflation and restrictive interest rates by the Fed as robust economic data strengthens the argument for hawkish dissenters. Recently, jobless claims remained low and the control group of retail sales rose sharply, while producer inflation surged. Meanwhile, Boeing extended its plunge after new orders from Chinese airlines were around half of what was expected.

US stock futures moved lower on Friday as investors took profits following a strong rally, while persistent Middle East tensions, rising inflation concerns, and growing expectations for a US interest rate hike pressured equities. President Trump said he would no longer be patient with Iran and urged Tehran to reach an agreement with Washington, keeping geopolitical tensions elevated. Oil prices continued to rise amid heightened uncertainty surrounding the Strait of Hormuz, intensifying inflation fears and reinforcing bets that the Federal Reserve could raise rates later this year. Meanwhile, the benchmark US 10-year Treasury yield climbed above 4.5%, reaching its highest level in a year after fresh inflation data pointed to accelerating price pressures. Meanwhile, during Thursday’s regular trading, the S&P 500 and Nasdaq Composite rose 0.77% and 0.88%, respectively, with both benchmarks closing at fresh record highs. The Dow also gained 0.74%, reclaiming the key 50,000 level.

US stock futures were broadly unchanged on Friday after major equity benchmarks surged to fresh record highs in the previous session, driven by strong gains in technology shares. During Thursday’s regular trading, the S&P 500 and Nasdaq Composite advanced 0.77% and 0.88%, respectively, with both indexes closing at new all-time highs. The Dow Jones Industrial Average also climbed 0.74%, reclaiming the key 50,000 mark. Technology stocks led the rally, with Cisco Systems soaring 13.4% after lifting its revenue and earnings guidance. Nvidia also jumped 4.4%, extending its monthly gain to 15% after the US approved shipments of H200 chips to 10 Chinese companies. The move came during President Donald Trump’s visit to Beijing alongside leading tech executives, as the US-China summit helped ease concerns over mounting global economic headwinds. In after-hours trading, Cerebras rose 6% following the artificial intelligence chipmaker’s stock market debut.