US stock futures hovered around the flatline on Friday, with major indexes on track to end the week sharply lower as investors reassessed the durability of the AI trade in the face of likely interest rate hikes by the Federal Reserve. Futures on the S&P 500 and Dow were little changed, while Nasdaq 100 futures edged lower for a fifth consecutive session.
CoreWeave slipped nearly 5% in premarket trading, extending its weekly decline to about 15% and highlighting renewed concerns about credit risk among AI infrastructure companies. Sentiment toward the sector has been pressured by relatively subdued revenue figures from Anthropic, as well as expectations of higher borrowing costs for heavily indebted firms.
Fresh data this week showed consumer inflation running hotter and producer prices surging, both on headline and core measures. Shares of Micron, AMD, and Marvell were down as much as 2.5% in premarket action.
In contrast, Tesla and SpaceX advanced 3% and 1.5%, respectively, after Tesla unveiled a new Roadster incorporating SpaceX thruster technology, fueling speculation about a potential merger or closer integration between the two companies led by CEO Elon Musk.
