US equity futures edged lower on Friday as technology stocks gave back part of the previous session’s strong gains and macroeconomic risks lingered. Futures on the S&P 500 and Nasdaq 100 slipped about 0.5%, while Dow Jones Industrial Average contracts ticked slightly higher.
Marvell Technology dropped nearly 8% in premarket trading, surrendering some of this month’s advance despite topping earnings estimates and raising its outlook. Semiconductor makers and AI infrastructure names broadly held on to their weekly gains after Nvidia signaled that compute demand is set to remain strong over the coming quarters.
Meanwhile, Fed Chair Warsh was scheduled to speak at the Jackson Hole Economic Symposium against a backdrop of economic uncertainty and a divided FOMC. Treasury yields remained elevated after their surge since the start of the quarter, as wider federal deficits and robust corporate bond issuance combined with Warsh’s indication that tighter financial conditions in secondary bond markets are both natural and potentially useful as a policy tool for the Federal Reserve.
