Traders were busy at the New York Stock Exchange, but the mood was cautious. Stock futures dipped Friday morning after a rough day for U.S. markets. Investors were eager for a crucial consumer inflation report set to release later that day.
By mid-morning, S&P 500 futures fell by 0.17%. Nasdaq 100 futures, however, showed a slight uptick, gaining 0.19%. Meanwhile, Dow Jones futures dropped by 81 points, a decrease of 0.16%.
In after-hours trading, some companies showed surprising strength. For instance, Applied Materials surged by 13% thanks to strong earnings and a positive forecast. Airbnb’s shares rose about 4% as investors responded favorably to the company’s optimistic guidance. However, Pinterest struggled, dropping 17% after reporting disappointing quarterly results.
On Thursday, broader U.S. markets faced a downturn. Concerns about artificial intelligence’s potential impact were swirling, particularly affecting sectors like real estate and software. The S&P 500 dropped nearly 1.6%, and the Nasdaq Composite fell about 2%. The Dow Jones lost nearly 670 points, or 1.3%.
All seven of the major tech companies ended the day lower. Cisco Systems led the decline with a 12% drop due to disappointing guidance. Apple also fell 5%, marking its worst daily loss since April 2025.
Brian Levitt, a global market strategist at Invesco, shared insights on CNBC’s “Closing Bell.” He commented on the market’s current state, stating, “There’s some steam coming out of certain names, but in general, this is not an AI bubble.” He noted that major indices like the Dow and S&P 500 were holding up well, despite underlying market turbulence.
Looking ahead, the consumer price index report was a focal point. Economists estimated a 2.5% year-over-year increase. For month-to-month changes, a 0.3% rise was also expected.
As of Thursday’s close, the major averages appeared headed for weekly losses, with the S&P 500 and Dow each down over 1%. The Nasdaq was set for a 1.9% decline.
This ongoing market volatility reflects a broader trend as investors weigh the impact of AI technology on various industries. Social media buzz around this topic has been intense, with users expressing both excitement and anxiety. The concerns reflect a shift in how both young investors and seasoned traders view emerging technologies.
For further insights, check out the latest observations from financial analysts at CNBC.
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