FX.co ★ US Futures Extend Losses

US equity futures declined on Friday, extending the previous session’s pullback as investors continued to reassess speculative positions in AI infrastructure names. Futures linked to the S&P 500 and Nasdaq 100 were down 0.4%, while Dow Jones Industrial Average contracts fell 0.6%.

Stocks leveraged to AI demand deepened Thursday’s losses, after analysts raised doubts about the durability of AI infrastructure spending in the wake of Nvidia’s earnings call. Nvidia dropped 5.5% on Thursday and traded lower in pre-market action, while Broadcom, Oracle, and CrowdStrike each fell more than 2% ahead of the open.

Banking futures also retreated, as investors rotated into long-duration Treasuries despite lingering concerns about sticky inflation and evidence of a resilient labor market.

In corporate news, Dell surged 11% on the back of a robust outlook for its AI server business, while CoreWeave slumped 12% after missing profit expectations. Netflix gained 7% after withdrawing from the bidding process for Warner Bros.