U.S. markets closed Friday, but futures diverged after tech losses dragged Nasdaq below key levels while Dow hit records.
Dow Jones futures edged lower early Friday, contrasting with gains in S&P 500 and Nasdaq futures, as U.S. markets prepared for a holiday closure. The Dow had surged nearly 600 points to record highs Thursday, while the Nasdaq slipped below critical moving averages amid steep declines in AI-related stocks like Tesla, Micron, and Sandisk.
The divergence followed a week of mixed performance, with the Dow posting strong weekly gains and the Nasdaq struggling under pressure from tech sector losses. Prior sessions saw the Dow outperform, buoyed by cyclical stocks, while Nasdaq’s tech-heavy composition faced headwinds from earnings concerns and profit-taking in high-growth names.
No immediate market reaction was reported as cash markets remained closed for the holiday.