Following Wall Street's shift from tech to value and cyclical names, which drove the Dow and S&P 500 to all-time highs, US stock futures saw uneven trading on Friday.
As the blue-chip index sought to build on its record closing high, Dow Jones Industrial Average futures (YM=F) saw a gain of about 0.3%. Nasdaq 100 futures (NQ=F) dropped 0.3%, while S&P 500 futures (ES=F) were essentially flat.
With all three indexes aiming for weekly gains as investors consider the Federal Reserve's probable policy actions in 2026, Wall Street is hoping to close the week on a positive note.
Following the Fed's third interest rate decrease of the year on Wednesday, high-growth AI beneficiaries were switched out during Thursday's session.
As Oracle's (ORCL) shares plummeted following its earnings report that rekindled worries about AI, the Nasdaq Composite (^IXIC) trailed behind its rivals, contributing to the decline of major tech companies including Google (GOOG) and Nvidia (NVDA).
The tendency may continue after chipmaker Broadcom's (AVGO) sales forecast fell short of Wall Street's desired AI payoff, which was exacerbated by the CEO's troubling comments to analysts.
Despite its quarterly earnings beat and anticipated tripling of AI-related semiconductor revenue, its shares fell almost 4% in premarket.
Lululemon's (LULU) earnings increased by about 11% after the business announced that CEO Calvin McDonald would step down at the end of January due to a period of poor performance.
