On Friday, Nasdaq futures exhibited a mixed performance, with the Dow Jones Industrial Average experiencing an uptick and the S&P 500 registering a slight decline following their respective record closings. In contrast, the Nasdaq indicated a significant downturn as concerns over the AI bubble prompted a continued decline in technology shares. Futures linked to the Dow Jones Industrial Average indicated an increase of 0.2% following the blue-chip index achieving both intraday and closing all-time highs yesterday. The S&P 500 experienced a decline of 0.1% following its record high close on Thursday, whereas the tech-heavy Nasdaq indicated a decrease of 0.5% after a prior session drop of 0.3%.

All three major equities indexes were on track to record gains for a third consecutive week, bolstered on Wednesday by the Federal Reserve’s decision to reduce its key rate by a quarter-percentage point to a range of 3.5% to 3.75%. Concerns regarding a potential AI bubble resurfaced in the markets following Oracle’s late Wednesday announcement of increased capital expenditures alongside revenue and operating income figures that fell short of analyst expectations. Shares of the cloud infrastructure giant experienced a significant decline of nearly 11% yesterday, adversely affecting other AI-related firms, including chipmakers Nvidia and Micron Technology, and in premarket trading on Friday, shares of Oracle, Nvidia, and Micron indicated declines of 1.1%, 0.7%, and 1.7%, respectively.

Broadcom appeared to be caught up in concerns about AI, with shares dropping 6% even though the chipmaker posted better-than-expected results after the bell Thursday. Lululemon Athletica shares surged approximately 10% following the announcement that CEO Calvin McDonald will resign at the end of January, and the equity has experienced a decline exceeding fifty percent of its value as of Friday. The 10-year Treasury yield, a key determinant of interest rates across numerous commercial and consumer loans, increased to 4.17% from 4.15% at Thursday’s close.

Bitcoin was trading around 92,600, up from overnight lows of about 91,500. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, increased slightly to 98.47 following its lowest closing level since mid-October recorded yesterday. Gold futures increased nearly 1.3% to $4,365 per ounce, whereas West Texas Intermediate futures, the benchmark for U.S. crude oil, declined to $57.50 per barrel.