NEW YORK — U.S. equity index futures and major technology exchange-traded funds declined Friday morning as investors grew cautious about artificial intelligence investment costs heading into key economic data releases.
The SPDR S&P 500 ETF Trust (SPY) fell 0.2 percent in premarket activity. The Invesco QQQ Trust (QQQ), tracking the Nasdaq 100, dropped 0.3 percent. S&P 500 Index futures declined 0.3 percent, while Dow Jones Industrial Average futures slipped 0.6 percent and Nasdaq futures retreated 0.1 percent.
The State Street Technology Select Sector SPDR ETF (XLK) fell 0.2 percent before the opening bell, reflecting direct pressure on tech valuations as investors recalibrate their AI capex assumptions.
S&P Global will publish its flash purchasing managers' index for October at 9:45 a.m. ET. The University of Michigan's final consumer sentiment report for October follows at 10 a.m. ET. The weekly Baker Hughes oil-and-gas rig count posts at 1 p.m. ET. These data points will test investor conviction in current growth forecasts.
Crypto assets bucked the equity decline. Bitcoin advanced 0.2 percent in premarket trading, while the ProShares Bitcoin Strategy ETF (BITO) rose 0.3 percent. The Ether ETF (EETH) gained 0.2 percent.
