US stock futures slid on Friday, eyeing more losses after a broad market sell-off as Wall Street waited for the latest reading on consumer inflation for a steer on the path of interest rates.
Contracts on the S&P 500 (ES=F) and the Dow Jones Industrial Average futures (YM=F) both dropped roughly 0.4%. Meanwhile, Nasdaq 100 futures (NQ=F) fell 0.3%, signaling a return of pressure on techs.
Caution prevails after a day of heavy selling as fears about AI disruption spilled into sectors such as real estate, logistics, and transportation — “old economy” names previously seen as a safe alternative to AI-tied stocks. Techs got pummeled, with all seven of the “Magnificent Seven” megacaps finishing lower.
That looks set to resumer as investors scrutinize the latest earnings for the next “shoot first, ask questions later” AI scare. Applied Materials (AMAT) stock surged over 10% as the chip toolmaker’s upbeat outlook mirrored robust AI demand. But Pinterest (PINS) shares tumbled about 20% as revenue fell short and analysts fretted about AI risks to its discovery platform.
Markets are also bracing with Friday morning’s report on January’s consumer price index, the inflation measure favored by the Federal Reserve in policy making. The key inflation measure is likely to shape expectations for an already complicated Federal Reserve policy.
The slightly delayed data will shed light on whether price pressures are turning less stubbornly sticky to start 2026. Expectations are for a slowing in the annual CPI rate to around 2.5%, and any surprise is likely to shape already complicated calculations for the path of interest rates.
On the earnings front, Rivian (RIVN) shares jumped almost 20% following its fourth quarter earnings beat late Thursday. The EV maker said its R2 midsize model is on track for delivery before the summer. Before the bell, eyes are on Moderna’s (MRNA) report, after it suffered a 10% drop in share value this week as the FDA rejected a new flu vaccine.
LIVE 6 updates
