U.S. equity futures edged lower Friday, extending the prior session\u2019s sharp selloff as investors reassessed the likelihood of a December Federal Reserve rate cut and continued to rotate out of high-valuation technology names.<\/p>\n\n\n\n
At 10:30 GMT, Dow Jones futures<\/strong> fell about 0.1% (-60 pts), S&P 500 futures<\/strong> slipped 0.2% (-12 pts), and Nasdaq 100 futures<\/strong> dropped 0.4% (-100 pts).<\/p>\n\n\n\n Wall Street\u2019s major averages suffered their worst daily decline in more than a month on Thursday. The Dow Jones Industrial Average<\/strong> shed nearly 800 points (-1.7%), slipping back below 48,000 only a day after first crossing the mark, while the S&P 500<\/strong> fell 1.7% and the Nasdaq Composite<\/strong> slid 2.3%, threatening to snap a seven-week winning streak.<\/p>\n\n\n\n A string of hawkish comments from Fed officials has dented expectations for a December cut. Minneapolis Fed President Neel Kashkari<\/strong> said he opposed last month\u2019s move and is undecided on December, while St. Louis Fed\u2019s Alberto Musalem<\/strong> and Cleveland Fed\u2019s Beth Hammack<\/strong> warned against easing policy too quickly with inflation still elevated. Market-implied odds now hover near 50%<\/strong> for a 25 bp reduction next month, down sharply from roughly 68%<\/strong> a week earlier.<\/p>\n\n\n\n The policy uncertainty is compounded by the aftermath of the nearly 43-day<\/strong> government shutdown. With official releases only now restarting, investors have relied on state-level indicators suggesting weekly jobless claims eased modestly in early November\u2014too small a drop, in traders\u2019 eyes, to strengthen the case for immediate easing.<\/p>\n\n\n\n The rotation away from mega-cap growth remains the chief drag on sentiment. Applied Materials<\/strong> fell pre-market after guiding that 2026 revenue faces a $600 million<\/strong> headwind from tighter U.S. export controls to China and warning that China wafer-fab equipment spending will likely decline next year. The company tempered the outlook by pointing to a second-half 2026 uplift tied to AI-driven capex.<\/p>\n\n\n\n Eyes turn next week to NVIDIA\u2019s<\/strong> results, which Barclays flagged as a pivotal read-through for whether AI enthusiasm\u2014and the heavy infrastructure spending underpinning it\u2014can re-accelerate.<\/p>\n\n\n\n Crude prices jumped after reports that a Ukrainian drone strike damaged an oil depot in Russia\u2019s Black Sea port of Novorossiysk<\/strong>, raising supply-disruption risks. Brent<\/strong> rose ~2.4% to $64.49<\/strong> and WTI<\/strong> gained ~2.7% to $60.25<\/strong>. Even so, both benchmarks are only on track for minor weekly gains after an OPEC<\/strong> outlook this week projected a small surplus in 2026, which had triggered a midweek selloff.<\/p>\n\n\n\n Into Friday\u2019s session, the burden of proof sits with bulls. Without clearer evidence of a December cut or stronger earnings validation for AI leaders, the path of least resistance remains sideways-to-lower, with sector rotation\u2014rather than broad risk-on\u2014shaping index moves.<\/p>\n","protected":false},"excerpt":{"rendered":" U.S. equity futures edged lower Friday, extending the prior session\u2019s sharp selloff as investors reassessed the likelihood of a December Federal Reserve rate cut and continued to rotate out of high-valuation technology names. At 10:30 GMT, Dow Jones futures fell about 0.1% (-60 pts), S&P 500 futures slipped 0.2% (-12 pts), and Nasdaq 100 futures …<\/p>\n","protected":false},"author":9,"featured_media":115890,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,39,36],"tags":[],"class_list":["post-120907","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-global-stock-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=120907"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120907\/revisions"}],"predecessor-version":[{"id":120908,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/120907\/revisions\/120908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/115890"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=120907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=120907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=120907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Fed repricing cools risk appetite<\/h2>\n\n\n\n
Tech under pressure; AMAT highlights China drag<\/h2>\n\n\n\n
Energy pops on supply risk<\/h2>\n\n\n\n
The setup into the close<\/h2>\n\n\n\n
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