US index futures were mixed on Friday, extending a volatile week as chipmakers gave back part of the previous session’s gains, while lower Treasury yields supported more traditional economic sectors. S&P 500 futures edged lower and Nasdaq 100 futures fell nearly 1%.
SK Hynix ADRs were set to begin trading on domestic exchanges in what would be the largest initial share sale by a foreign company. News that the deal was about seven times oversubscribed fueled interest in AI infrastructure stocks, particularly lifting memory-chip producers after Micron raised its investment outlook.
The more speculative segment of the market pared yesterday’s advance, with Micron and SanDisk both down more than 2% in premarket trading. By contrast, Dow futures inched higher, as the index has less direct exposure to chipmakers. Financials and other traditional cyclical sectors found some relief as oil prices paused their rebound and worries about another Federal Reserve rate hike eased. Delta Air Lines also gained about 2% after reporting strong earnings and announcing a dividend increase.
