Dow futures advanced early Friday following a challenging session for U.S. markets. Futures linked to the Dow Jones Industrial Average rose 0.07%, while S&P 500 futures gained 0.15%. Nasdaq-100 futures showed the strongest uptick, climbing 0.4%.
Shares of Broadcom surged 14% after reporting fiscal fourth-quarter adjusted earnings that exceeded expectations, driven by a 220% year-over-year surge in artificial intelligence-related revenue. Meanwhile, RH, a home furnishings company, saw its stock jump 18% following optimistic revenue growth guidance.
These overnight moves followed a rough day on Wall Street. The Dow fell 234 points, or 0.5%, marking its sixth straight decline and its longest losing streak since April. The Nasdaq Composite dropped 0.7%, slipping below the 20,000 threshold as tech stocks, including Nvidia, faced pressure. The S&P 500 dipped 0.5%.
For the week, the Dow is on track for a 1.6% loss, while the S&P 500 is poised for a 0.6% decline. In contrast, the Nasdaq is set to rise 0.2%, showing some resilience.
Thursday’s session was influenced by a stronger-than-expected producer price index (PPI) report for November. Wholesale prices climbed 0.4% for the month, surpassing the Dow Jones estimate of 0.2%.
The recent rally in equities has sparked concerns about potential overvaluation, though some analysts believe there’s still room for growth.
