Wall Street futures flat as tech wobbles; Tesla gains, oil slips
US stock index futures were muted on Friday as technology stocks faced fresh pressure over concerns about the AI trade, though gains in Tesla shares and falling oil prices provided some support. Reuters reported that some current and prospective investors in Anthropic's upcoming IPO are weighing a lower valuation amid broader worries about ballooning AI financing costs. AI stocks have cratered this week as investors fear data centre operators may not turn profitable in time to repay debts, especially with borrowing costs expected to rise. The selloff in AI stocks sparked a rotation into defensive sectors like healthcare on Thursday, helping main indexes close slightly higher. The S&P 500 and Nasdaq were set for weekly losses, while the Dow remained on track for a weekly advance. Markets increasingly expect the Federal Reserve to keep interest rates unchanged this month.