- S&P 500 E-mini futures slip 0.25%, while Nasdaq 100 futures drop 1%, signaling a tech-led selloff.
- Dow futures edge up 0.1%, suggesting rotation into value and defensive stocks.
- Investor caution ahead of economic data and Fed commentary fuels mixed sentiment.
Futures on major U.S. stock indexes flashed a mixed picture early Friday, with the tech-heavy Nasdaq 100 leading declines as growth concerns resurface. S&P 500 E-mini futures fell 0.25%, while Nasdaq 100 futures dropped 1%, reflecting a sharp pullback in technology shares. In contrast, Dow futures managed a modest gain of 0.1%, buoyed by industrial and financial names.
The divergence points to a risk-off tone among investors, who are treading carefully ahead of key economic data releases and Federal Reserve commentary due later in the session. “Markets are in a wait-and-see mode,” said one trader. “Tech is getting hit the hardest because valuations are stretched and any hint of higher rates could spark a deeper selloff.”
The moves come after a volatile week, with major averages struggling to hold gains amid uncertainty over the pace of rate cuts. The 10-year Treasury yield hovered around 4.2%, adding pressure on growth stocks.
Market participants are closely watching the upcoming jobs report and consumer inflation data, which could influence the Fed’s next move. “If the data comes in hot, we could see a further rotation out of tech,” said another market strategist. “The Dow’s resilience suggests money is moving to safer bets.”
Attempts to reach analysts for comment were not immediately successful.
Correction: An earlier version misstated the Nasdaq 100 futures decline. It is down 1%, not 0.35%.