U.S. stock futures were mixed Friday as investors assessed fresh pressure on Nvidia and broader concerns around technology shares. The retreat followed a weaker regular session, with markets also focused on oil prices, inflation data and the next Federal Reserve decision.
At 4:26 p.m. (Bangkok Time), contracts linked to the Dow Jones Industrial Average were 0.06% higher. S&P 500 futures were just above the flatline, while Nasdaq-100 futures lost 0.13%, reflecting heavier pressure on growth and chip-related shares.
Nvidia remained central to the market weakness after its stock dropped 4.34% on Thursday, though it recovered from session-low. The decline weighed on all three major U.S. benchmarks, helping push the Nasdaq Composite and S&P 500 down about 0.4% each. The Dow Jones Industrial Average fell nearly 190 points, also around 0.4%.
The chipmaker said Chief Financial Officer Colette Kress will serve as interim chief executive. Kress has been with Nvidia for more than 10 years. The board is considering both internal and outside candidates for a permanent successor.
Jensen Huang stepped down Thursday following reports involving multiple extramarital relationships, including with at least two Nvidia employees who reported to him and with a suspected Chinese spy. Huang had led the company since co-founding it in 1993 and played a central role in Nvidia’s rise as a major supplier of advanced artificial intelligence processors.
His departure creates uncertainty for a company deeply tied to the AI investment boom. Huang had directed Nvidia’s large cash reserves toward numerous startups and cloud-computing providers, including companies that also buy Nvidia products.
Beyond Nvidia, equities faced additional pressure from higher energy prices. Brent crude advanced more than 3% Thursday to $95.82 a barrel after President Donald Trump indicated on Truth Social that the U.S. did not need an agreement with Iran. The remark increased concern that the U.S.-Iran conflict could continue for longer.
On Friday, Brent futures gained an additional 0.07% to $95.89, while U.S. West Texas Intermediate crude slipped 0.18% to $88.58.
Investors were also weighing the political outlook after Democrats secured majorities in both chambers of Congress. The result has raised expectations for tougher oversight of AI development, at a time when public sentiment toward artificial intelligence and the environmental costs of data centers has weakened.
Interest rate concerns added to the cautious tone. October consumer inflation came in above expectations, reinforcing market expectations that the Federal Reserve will raise rates in December.
The next inflation test is due Friday with the October producer price index, which tracks wholesale prices. Economists surveyed by Dow Jones expect headline PPI to increase 0.4% from the prior month and 6.6% from a year earlier.
Despite the latest volatility, major indices remain on track for weekly gains. The Nasdaq Composite is up 3.2% for the week, the S&P 500 is headed for a 2.9% rise, and the Dow is set for an advance of nearly 2%. All three are positioned for their strongest weekly performances since early August.
